Trump’s Iran sanctions: UAE, Saudi assure India on oil supplies to cover for possible deficit


Trump’s Iran sanctions: UAE, Saudi assure India on oil supplies to cover for possible deficit

The UAE and Saudi Arabia have stood by India + to cover deficits in oil supplies in the past and would do so in the future, said Ahmed Al Banna, UAE envoy to India.

Speaking to journalists before a meeting of the joint commission between the two countries, Al Banna said while fuel prices are determined by global markets and demand, he was confident that India would not have to worry about supplies even after a 180-day sanctions waiver by the US + on Iran oil imports ceases.

“Even if that had not taken place, if you go back to history, in previous times, the UAE and Saudi Arabia have always stood very strongly and supplied and covered any shortage of oil or fuel concerns of India. So, I don’t think there is any major concern on that,” he said.

Indian sources said recently that oil ministers from both UAE and Saudi Arabia personally assured Prime Minister Narendra Modi on continued oil supplies, during the energy forum held in Delhi. Read More

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