February 15, 2012. India is likely to import less oil from Iran this fiscal year ending in March, compared with 2010/11. Iran is India's second largest crude oil supplier meeting about 11 percent of the South Asian country's imports. Tehran is facing Western sanctions over its nuclear plans that many say is aimed at making a bomb. Iran says it wants to produce power. The sanctions make it tough for importers to pay for Iran's oil. Indian purchases have been fraught with payment problems in the past 13 months after a clearing mechanism was scrapped. Indian refiners have since sought alternative supplies. India's oil imports from Iran have declined from 21.8 million tonnes, or 16.43 percent of total imports, to 18.5 million tonnes or about 11 percent, in 2010/11.