India to decide on resuming buying oil from Iran after elections: report

NEWDELHI: India told Iran on Tuesday that it will decide on its oil imports after elections end this month, in line with its economic interests. This follows a meeting between Iranian foreign minister Javad Zarif and his Indian counterpart Sushma Swaraj in New Delhi, days after India decided to follow US restrictions on buying Iranian oil.

“On purchase of oil from Iran, EAM [external affairs minister] reiterated the position that a decision will be taken after the elections keeping in mind our commercial considerations, energy security and economic interests,” a government source told news agency Reuters.

The ministry of external affairs (MEA) said Zarif held discussions with external affairs minister Sushma Swaraj on issues of mutual interest, including the evolving situation in Afghanistan. “EAM @Sushmaswaraj and Iranian Foreign Minister @Jzarif held constructive discussions on all bilateral issues of mutual interest. Good exchange of views on the evolving regional situation, including Afghanistan,” MEA spokesperson Raveesh Kumar tweeted.

Iran is the third-largest oil supplier for India after Iraq and Saudi Arabia. India bought 23.6 million ton of Iranian oil in the financial year ending in March 2019.

Put into a difficult situation by US pressure, India said it would buy crude oil from other major oil producing countries to protect its interests.

Washington has renewed sanctions on Iran in an attempt to eliminate all of its oil revenue, which it says funds destabilising activity throughout the Middle East and beyond.