Union Minister for Petroleum and Natural Gas Dharmendra Pradhan has said India sees the US sanctions on Iran as a ‘challenge’ given its close ties with both countries, but will take a ‘considered and comprehensive’ view, based on ‘national interest’, and find a way to secure its energy needs: His comments come a week before a US expert-level delegation arrives in India, on July 16 and 17, to discuss sanctions with Petroleum Ministry and Ministry of External Affairs experts and share each other’s perspective on its impact on global oil markets.
India, led by private players, purchased around 10% of its crude oil from Iran in 2016-17, but the figure has risen to 18% this year with 33 million tons of crude being imported.
In an interview, Pradhan underlined the importance of ties with both countries. “We have a special strategic relationship with US. We have a historic, cultural and civilisational relationship with Iran. Iran is also a factor in India-Afghanistan relationship because of its geographic proximity. Our economic interests are tied to both. The government will take a comprehensive view.” Read More
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