Iranian oil ban – India is caught between a rock and a hard place


Iranian oil ban – India is caught between a rock and a hard place

India has done what any other country in election mode would have done — postpone a very sticky decision for another day. This week, Iranian foreign minister Mohammad Javad Zarif came to New Delhi on an unscheduled visit with the most onerous task at hand, asking for Indian support against the backdrop of US-Iran tensions over the Joint Comprehensive Plan of Action (JCPOA) or the Iranian nuclear deal.

When Zarif raised the subject of the purchase of Iranian oil, he was told by his Indian counterpart Sushma Swaraj that a decision would be taken once the general elections were through, keeping in mind the country’s “commercial considerations, energy security and economic interests”. In reality though, India is caught between a rock and a hard place.

Tehran is among New Delhi’s top three energy suppliers, providing 23.6 million tonnes of oil last year, or about 10 per cent of the country’s energy needs. Read More

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