Germany Suggests India Continue Iran Oil Imports

EghtesadOnline: Speaking to Indian TV, Germany voiced hope that India would continue to purchase Iranian oil in the face of looming US sanctions against Tehran.

News ID: ۷۴۵۶۹۹

23 July 2018

"It will be India's sovereign decision. I am not a salesman for Iran but I have an impression that India is willing to continue buying oil from Iran and this will be a very important statement," German minister of state for international affairs, Neils Annen who had a 2-day trip to Bangladesh last week to discuss bilateral issues, was quoted as saying by Sputnik.

He also described the US drive to pressurize its allies to comply with anti-Iran sanctions as "irritating, to put it mildly".

According to Financial Tribune, the statement came after the Iranian Embassy signaled the Islamic Republic's willingness "to do its best to ensure the security of [its] oil supply to India".

The embassy also vowed to offer "flexible measures" to boost bilateral trade with Iran, which "has always been a reliable energy partner for India".

At the same time, Tehran stressed last week that it would suspend all privileges extended to New Delhi in bilateral trade, including payments in rupees, if the Indian government cuts back on oil imports from Iran after the US sanctions are introduced in early November 4.

Earlier this week, Tehran stressed that it would suspend all privileges extended to New Delhi in bilateral trade, including payments in rupees, if the Indian government cuts back on oil imports from Iran after the US sanctions kick in on November 4.

India's minister of petroleum and natural gas, Dharmendra Pradhan, stated that the Indian government would make a decision before the implementation of the US sanctions against Tehran on Nov. 4.

On May 8, US President Donald Trump announced that his country has withdrawn from the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action.

According to the US Treasury Department, following a wind-down period, three different rounds of sanctions will be imposed on Iran in the coming months. They are scheduled for August 6, November 4 and November 5, respectively.

Other signatories to JCPOA, including Russia, China, Germany, Britain, and France, have refused to exit from the deal and introduce sanctions against Iran.