Commodities

India And U.S. Discuss Over The Oil Import From Iran

As declared before by authorities, the high-level U.S. delegation that held talks with Indian officials conveyed that waivers could be given if there was a reduction in oil imports from Iran. It was expected that Washington may offer an exemption to some countries from restriction regarding oil import. The delegations were led by Marshall Billingslea, the assistant secretary for terrorist financing in the U.S. US treasury department from the side of America and several officials from the petroleum and foreign ministries representing India.

Delegations Hold Political Importance

Ahead of the meet, it was rumored that India could convey to the U.S. that it could consider reducing import of crude oil from Tehran in exchange of an exemption from U.S. sanctions on the plans regarding the development of Chabahar Port. The Chabahar Port is essential for India as the capital of the country sees as a gateway to Afghanistan and lands of Central Asia.

The government of India has been maintaining that it will do what is best in the country’s best interest. However, India is hoping for some relief from this sanction. The U.S. delegation is a part of several efforts of the U.S. President, Donald Trump’s administration that focuses on dealing with those countries who has tie-ups with Iran regarding oil import.

The Time of India reported that the Indian government has not made a decision whether to cut the oil deal with Iran in compliance with the U.S. However, the deal has gained importance as Trump’s administration recently pulled out the Iran nuclear deal and made economic sanctions against Tehran. Cutting off Iran will be hard for India as it is India’s third largest supplier after Saudi Arabia and Iraq.

U.S. has made clear that it wants to reduce the cash flow to Iran as it blames the country for using oil money to prop up the opposition in Syria and Yemen, which created issues for the U.S. allies such as Israel and Saudi Arabia.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Swamini Kulkarni holds a Bachelors Degree in engineering and works as a content writer. She is deeply fascinated by technological advancements and the trending topic.

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