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Oil sales to India will continue despite US sanctions: Iran

  •   Sun, Sep 30 2018 09:23:29 AM

Tehran, Sep 30 (IANS): The Iranian Foreign Minister said Iran's oil sales to India will continue despite the US threats of sanction pressures against Iran and its economic partner, Financial Tribune daily reported on Saturday.

India is committed to buying Iranian oil and continuing the bilateral economic cooperation, Mohammad Javad Zarif said after a meeting with his Indian counterpart in New York on the sidelines of the United Nation General Assembly.

"Our Indian friends have always been categorical in terms of their intention to continue economic cooperation and the import of oil from Iran," he said.

"We have comprehensive cooperation with India that includes energy cooperation because Iran has always been a reliable source of energy for India," Zarif added.

India, Iran's second largest oil customer after China, has not yet decided whether to completely stop purchasing Iran's oil despite its already reduced imports, according to Financial Tribune.

US President Donald Trump withdrew Washington from the 2015 Iranian nuclear agreement in May and vowed to re-impose oil and banking sanctions on Tehran, which should have been lifted under the international nuclear deal.
  

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Comment on this article

  • Alphonso Rodrigues, Udupi

    Sun, Sep 30 2018

    We can expect another increase soon if Iran stops or we stop from that matter. When US sanctions the countries too dealing with Iran, then India will have no choice to seek alternatives. Of course everything comes with a price.

    DisAgree Agree [1] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Sun, Sep 30 2018

    Modi & Donald Trump are good friends and Trump may consider India for a special favor not to include Indian companies in us sanctions!
    Else, oil prices may shoot up and local price on petro & diesel prices would exorbitant.

    DisAgree Agree [3] Reply Report Abuse

  • Alex, Mangalore

    Sun, Sep 30 2018

    He is more good friend with Mr. Putin of Russia and Mr. Xi of China.
    Look at what he has done, he has increased sanctions on Russia since and put heavy Tariffs on all goods imported from China.
    Personal friendliness does not mean he will back off from what he wants to do on trade etc.
    Similarly he gives peanuts to Pakistan than what used to be given earlier. He talks and he does which is
    backed up by his UN Ambassador Ms. Nicky Haley who is a iron lady of Indian Origin.

    DisAgree Agree [3] Reply Report Abuse

  • Truth Teller, Karnataka

    Sun, Sep 30 2018

    Will see what's meant by 56 inch chest!!!

    DisAgree [3] Agree [3] Reply Report Abuse

  • Alex, Mangalore

    Sun, Sep 30 2018

    Looks like oil prices will further go up, with Oil sanctions being imposed from November 1 by United States.
    And in carrot and stick policy of the US, the Unites States will impose sanctions on any Company that deals with Iran.
    Hence most big companies from Europe already left Iran, because of the fear of Sanctions on them by US in return.
    It will be similar fate for India, when all the big 4 of India, Indian Oil, HPCL, BPCL and Reliance incur sanctions if they import crude from India, that is even money transfers between these big companies will be curbed, which goes through Swift mechanism.
    If some one can drive road Tankers to Iran that is the only possibility.
    Only hope is if other OPEC countries increase their production.

    DisAgree Agree [4] Reply Report Abuse

  • ca girishkk, m'lore/dxb

    Sun, Sep 30 2018

    After all CRUDE OIL ..., If not from IRAN..., probably Reliance Refineries will suffer a lot....!!!!!!!!
    Investors in Reliance industries must be aware & beware of this development.., UNCLE SAM big brother US will hit hard on Hindustan sooner than later....!!!!

    Jokers..., don't know how to run the economy..., EDUCATION is all that makes the difference...,
    simply engaging in DOMBARATA....!!!!

    DisAgree [2] Agree [9] Reply Report Abuse

  • Vincent Rodrigues, Katapadi/Bangalore

    Sun, Sep 30 2018

    These are all coming under bilateral agreement of India with other countries

    DisAgree Agree [7] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, Sep 30 2018

    At least now we can expect Modi to bring down Petrol Rates ...

    DisAgree [2] Agree [9] Reply Report Abuse

  • sri_elder, Karkala

    Sun, Sep 30 2018

    Yes.. India and Iran are good friends...
    If Iran continues to give door delivery, India should not reject business...

    DisAgree [7] Agree [3] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sun, Sep 30 2018

    Now Petrol & Diesel will become Rs. 50 & 45 per Liter ...

    DisAgree [1] Agree [9] Reply Report Abuse

  • Alex, Mangalore

    Sun, Sep 30 2018

    Not at all, not even in dreams.

    DisAgree [1] Agree [3] Reply Report Abuse


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