Iran will take care to supply India with all the oil it needs, the country's embassy in India said, a day after deputy ambassador threatened India that Iran could turn the tap off if India cut back on Iranian oil under the pressure of USA sanctions. Ansari said that India-Iran ties dated back to thousands of years.
India, Iran's top oil client after China, asked refiners last month to prepare for drastic reductions or even zero Iranian oil imports. Reports suggest that India may have reduced oil supply from Iran under the pressure from the United States. Everybody knows India imports 80 per cent of its requirement of crude oil from overseas. We get energy supplies from Iran. In such a context, it's no wonder that Iran would make an extra effort to secure India as a stable trade partner and oil buyer. It is located in our neighbourhood and borders - Pakistan and Afghanistan.
The leader said the reduction shows that Modi is a "paper tiger" and has crumbled under the USA pressure, ultimately hurting the Indian consumer. During the Iran-Iraq war in 1980-88, some Arab friends told that India should leave Iran. "The Indian and Iranian governments understand each other and we share warm and cordial relations with Iran", he added. "Modi has once again prioritized the US' interests over India's national interests when it comes to controlling fuel prices".
"As far as oil goes, the Indian Government has a unique policy that profit is mine and loss is yours", Shergill said.
"For India, Iran is an important partner for energy and connectivity", Kumar said at a press conference on Thursday.
In response to a question on the comments made by Iran Deputy Ambassador and Charge d'Affaires Massoud Rezvanian Rahaghi at a seminar on Tuesday that New Delhi would stand to lose "special privileges" if it cut import of Iranian oil following USA sanctions, Ministry of External Affairs spokesperson Raveesh Kumar said his remarks were "misquoted" and that the Iranian side had issued a clarification in this regard. In an address at a seminar yesterday, Rahaghi said Iran will end the privileges being provided to India if it tries to source oil from countries like Saudi Arabia, Russia, Iraq, the U.S. and others to offset cuts in Iranian oil import.
The Trump administration brought back sanctions against Iran after pulling out the USA from the Iran nuclear deal in May.
India was one of the few countries that continued to deal with Iran during previous sanctions although it had to cut imports from Tehran as banking, insurance and shipping channels were choked.