Government will decide on Iranian oil after polls: Sushma Swaraj

Government will decide on Iranian oil after polls: Sushma Swaraj

It may be recalled that the United States had earlier given six-month waivers to eight countries including India, China, Japan and South Korea for exemption from the November 4 deadline past year of stopping Iranian oil imports completely.

After the US' announcement, India, the second largest buyer of Iranian oil after China, had said it was adequately prepared to deal with the impact of the decision to end waiver.

Foreign minister Sushma Swaraj is said to have conveyed this to her Iranian counterpart Javad Zarif at their bilateral meeting in the capital.

According to reports, India is one of the eight countries which were exempted from a US-imposed ban on Iranian oil imports.

More news: Saudi Arabia says its oil pipeline was hit by drones

Washington wants to block Iran's oil exports after President Donald Trump pulled out of the 2015 Joint Comprehensive Plan of Action (JCPOA) between Iran and the P5+1 countries - the US, Russia, UK, France, China and Germany - in May 2018 to curb Tehran's nuclear programme. The waiver ended early this month. Zarif's visit to New Delhi comes within days of the United States ending its waiver to India that allowed it to buy Iranian oil without facing American sanctions.

India is helping Iran develop Chabahar Port on the Gulf of Oman for trade with Afghanistan and Central Asia, bypassing Pakistan, which has refused to provide New Delhi access through a land route. But with President Donald Trump announcing the USA pullout a year ago, the USA has again turned on the heat on Iran.

"On the purchase of oil from Iran, EAM reiterated the position that a decision will be taken after the elections, keeping in mind our commercial considerations, energy security and economic interests".

India committed up to $500 million for the development of Chabahar along with associated roads and rail lines.

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