Zarif Says India Will Continue to Buy Iranian Oil
India is committed to buying Iranian oil and continuing the bilateral economic cooperation, the foreign minister said Thursday after a meeting with his Indian counterpart and ahead of US sanctions aimed at halting Tehran’s oil exports.
US President Donald Trump’s withdrew in May from an international nuclear pact with Iran and has said plans to impose tougher new sanctions against the third-largest producer among the Organization of the Petroleum Exporting Countries.
Washington is also pushing it allies to cut Iranian oil imports to zero once the sanctions come into effect on Nov. 4, Reuters reported.
Mohammad Javad Zarif met his Indian counterpart, Sushma Swaraj, in New York on the sidelines of the United Nation General Assembly.
“Our Indian friends have always been categorical in terms of their intention to continue economic cooperation and the import of oil from Iran. And I heard the same statement from my Indian counterpart,” Zarif said when asked if India has given an assurance about continuing with oil imports.
India, Iran’s second-biggest oil client behind China, has already reduced its intake of Iranian oil but has not yet decided whether to end purchases completely.
“We have comprehensive cooperation with India that includes energy cooperation because Iran has always been a reliable source of energy for India,” Zarif added.
Iran is India’s third-biggest oil supplier and the South Asian nation had drawn plans to increase purchases this financial year after Tehran offered almost free shipping and extended credit period.
In the previous round of sanctions, India was one of the few countries that continued to trade with Iran.
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
