Despite the uncertainty surrounding re-insurance for oil refineries over crude oil import from Iran, companies here are not perturbed yet about the United States’ sanctions in this regard. They said they believe the government would come out with a solution by June.

Hit largely by the sanctions are the country’s largest importer of Iranian crude oil, Mangalore Refinery and Petrochemicals ( MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), and Indian Oil’s ( IOC’s) Chennai Petroleum Corporation.