Quote on Recent announcement on 60-day general license by Prashant Vashisht, Senior Vice President, ICRA Ltd

2026-06-23 09:07:41 am | Source: ICRA Ltd

Quote on Recent announcement on 60-day general license by Prashant Vashisht, Senior Vice President, ICRA Ltd

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Below the Quote on Recent announcement on 60-day general license by Prashant Vashisht, Senior Vice President, and Co-Group Head Corporate Sector Ratings, ICRA Ltd

"The announcement of opening of Strait of Hormuz and issuance of a temporary 60-day general license authorising production, delivery and sale of Iranian crude are positive for the tight crude oil markets. Iranian crude was historically available with credit period of 60-90 days as against 30 days of other crude producers which was beneficial for refiners due to lower working capital requirements besides which geographical proximity to India would benefit Indian refiners."

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Quote on Recent announcement on 60-day general license by Prashant Vashisht, Senior Vice President, ICRA Ltd

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