Business Standard

Iran says India will continue to buy its oil

- NIDHI VERMA

India is committed to buying Iranian oil and continuing the two nations' economic cooperatio­n, the Iranian foreign minister said after a meeting with his Indian counterpar­t and ahead of US sanctions aimed at halting Tehran's oil exports. US President Donald Trump's May withdrawal from an internatio­nal nuclear pact with Iran was followed up with plans to impose new sanctions against the thirdlarge­st producer among the Organizati­on of the Petroleum Exporting Countries (OPEC).

Washington is pushing allies to cut Iranian oil imports to zero once the sanctions start on November 4.

Iran's Foreign Affairs Minister Mohammad Javad Zarif met his Indian counterpar­t, Sushma Swaraj, in New York on the sidelines of United Nation General Assembly, according to a video from news agency ANI, a Reuters affiliate. "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 said when asked if India has given an assurance about continuing with oil imports.

India, Iran's secondbigg­est oil client behind China, has already reduced its intake of Iranian oil but has not yet decided whether to end purchases completely.

"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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