India will continue to buy Iran's oil, says Iranian Foreign Minister Zarif

New Delhi, News Nation Bureau | Updated : 28 September 2018, 12:00 AM
India even had drawn plans to increase oil purchases this financial year after Iran offered almost free shipping and extended credit period.
India even had drawn plans to increase oil purchases this financial year after Iran offered almost free shipping and extended credit period.

After a recent meeting with his Indian counterpart Sushma Swaraj, Iran’s Foreign Affairs Minister Mohammad Javad Zarif said New Delhi will continue to buy Iranian oil even as reports claimed that India isn't planning to buy any oil from the Persian Gulf state in November.

“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 told news agency Reuters when asked if India has given an assurance about continuing with oil imports.

“We have comprehensive cooperation with India and that comprehensive cooperation also includes energy cooperation because Iran has always been a reliable source of energy for India,” Zarif added.

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Reuters added that India even had drawn plans to increase purchases this financial year after Tehran offered almost free shipping and extended credit period.

US President Donald Trump’s May withdrawal from a landmark 2015 nuclear agreement had already spooked investors and triggered a run on the Iranian trial long before nuclear-related sanctions went back into force.The US is asking allies to cut Iranian oil imports to zero once the sanctions start on November 4.According to NDTV, Indian Oil Corp. and Bharat Petroleum Corp. -- the country's two largest state-owned refiners -- haven't asked for any Iranian cargoes for loading in November. 

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Zarif told Reuters that said Iran wants to expand its bilateral ties with India. New Delhi is also expected to convey to the US the importance of the Chabahar port project considering that it can be a major link for trade with war-ravaged Afghanistan. Earlier, it was reported that there had been informal indication from the US that the Chabahar port may be kept out of the sanctions regime.

First Published: Thursday, September 27, 2018 11:59 PM
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