New Delhi: Post 12 days United States ended the six-month-long exemption from sanctions to India and seven other countries to buy oil from Iran, Iran Foreign Minister- Javad Zarif, came on a visit to India to hold a dialogue on the import of crude oil.
However, seeing ongoing Lok Sabha Elections, Foreign minister Sushma Swaraj told her visiting Iranian counterpart Javad Zarif on Tuesday that decision on oil purchase from Iran will be taken after the elections keeping in mind India commercial considerations, energy security and economic interests.
As per the officials, the Iranian Foreign Minister took himself the initiative to talk to India and brief the Indian side on the Iranian approach to the recent developments in the region, including on JCPOA, and to review bilateral cooperation. This was part of their consultation with other countries in the region including Russia, China, Turkmenistan, and Iraq over the last few days.
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As per an official source, “Zarif recalled the steps announced by President Rouhani on May 8 including decisions linked to the export of enriched material and heavy water. He mentioned that 60 days timeline has been given to EU-3 and other parties to JCPOA (Joint Comprehensive Plan of Action) for restoring the oil and banking channels.”
One of the JCPOA spokesperson said that India official position was reiterated. India would like all parties to the agreement to continue to fulfil their commitments and all parties should engage constructively and resolve all issues peacefully and through dialogue.
India is the world third biggest oil consumer and meets more than 80% of its oil needs through imports. Iran is its third largest supplier after Iraq and Saudi Arabia and meets about 10% of its total needs.
The US in November told India and other countries to cut oil imports from the Gulf nation to “zero” by November 4 or face sanctions.