Between April to June 2018 Iran was the second biggest oil supplier to India thus pushing Saudi Arabia to the third place Most of the Indian state-run oil companies opted for the Iranian oil because of the heavy discounts offered by the Gulf nation.
India presently has the most competitive agreement with Iran for oil supplies — the shipping costs from the Persian Gulf are minimal in comparison to any other country and Iran also offers a longer credit repayment period.
Iran on Friday said it is working together with the Indian government to keep its oil export lines to India open even after US sanctions on the Gulf nation kick in on November 4 following Washington’s withdrawal from the Iran nuclear deal.
Speaking to reporters on the sidelines of the Global Mobility Summit, the Iranian Roads and Urban Development Minister Abbas Akhoundi described the US as an “outsider” to the region and underlined the need to strengthen the traditional relationship between India and Iran.
“India and Iran’s relationship is essential for region and we are looking at ways to work together. The US is an outsider in the region, so the insiders should come together and continue their friendship,” he said.
Only a day before India and the US had signed a long pending but by now a very watered down and especially India specific defence pact that enables Indian Armed Forces to buy selective ( from India’s angle)sensitive military equipment from Washington. India however never made any official request on securing a waiver from American sanctions and why should it as a Sovereign Country, no way inferior to or afraid of USA. New Delhi will go ahead and purchase Russian weapons or Iranian oil as it pleases and when it pleases.
India has been maintaining that purchase of Iranian crude is crucial to its energy security and that it would go ahead with its purchase of S-400 missile defence system from Russia.
Briefing reporters after the first India-US 2+2 dialogue, US Secretary of State Mike Pompeo said that he had told the Indians “consistently that on November 4 the sanctions will be enforced, and that we will consider waivers where appropriate”……better do it, Mr Pompeo to save your own face and future.
He, however, said the US expected that the purchases of Iranian crude oil would “go to zero from every country, or sanctions will be imposed. So we’ll work with the Indians”……a pipe dream of the highest order.
“From whence they (India) purchase the other crude oil, we’re happy to see if it’s American products that are able to deliver for them.”
However, responding to a question on India’s Russian defence deal, Pompeo said: “Our effort here, too, is not to penalise great strategic partners like India, a major defence partner. The sanctions aren’t intended to adversely impact countries like India. They are intended to have an impact on the sanctioned country.”
