CAATSA Rais­ing Con­cerns For In­dia’s S-400 Deal And Im­port Of Crude From Iran

Chemical Industry Digest - - News & Views -

In­dia has en­gaged with the US and all other stake­hold­ers re­gard­ing the S-400 mis­sile deal with Rus­sia and im­port of crude oil from Iran fol­low­ing Wash­ing­ton’s im­po­si­tion of the sanc­tions act on Moscow and Tehran.

The Coun­ter­ing Amer­ica’s Ad­ver­saries Through Sanc­tions Act (CAATSA) came into ef­fect in Jan­uary. The Act tar­gets coun­tries do­ing busi­ness with Rus­sian, Ira­nian and North Korean de­fence com­pa­nies. The sanc­tions were im­posed on Rus­sia over what they call Moscow’s con­tin­ued in­volve­ment in the wars in Ukraine and Syria and its al­leged in­ter­fer­ence in the 2016 US pres­i­den­tial elec­tion.

In May, US brought back sanc­tions on Iran af­ter with­draw­ing from the Iran’s nu­clear deal which was struck in 2015. Un­der the sanc­tions, the US wants all coun­tries in the world to stop im­port­ing oil from Iran.A fresh US sanc­tions on Iran, is set to come in- to ef­fect on Novem­ber 4, which has raised con­cerns in New Delhi, since the West Asian na­tion is a ma­jor sup­plier of crude oil to In­dia.

“We are en­gaged with the US on this mat­ter and we have shared our po­si­tion with the US at dif­fer­ent lev­els,” Raveesh Ku­mar, Spokesper­son in the Min­istry of Ex­ter­nal Af­fairs said.

He also said that In­dia has con­veyed its con­cern over the price of crude oil as it di­rectly af­fects the do­mes­tic econ­omy and the com­mon man of the coun­try. He also men­tioned that, In­dia will do ev­ery­thing pos­si­ble to en­sure the coun­try’s en­ergy se­cu­rity.

There has been in­di­ca­tion that In­dia may not to­tally stop im­port of crude oil from Iran as Iran is In­dia’s third-largest oil sup­plier af­ter Iraq and Saudi Ara­bia. Be­tween April 2017 and Jan­uary 2018 (first 10 months of fis­cal 2017-18), Iran sup­plied 18.4 mil­lion tonnes of crude oil to In­dia.

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