Crude oil imports may figure in India-Iran talks

According to sources, import of crude oil from Iran could figure in the talks between Abdollahian and External Affairs Minister S Jaishankar on Thursday.

Published: 09th June 2022 08:50 AM  |   Last Updated: 09th June 2022 08:50 AM   |  A+A-

External Affairs Minister S. Jaishankar with Iran’s Foreign Minister Hossein Amir-Abdollahian in New Delhi | Pti

Express News Service

NEW DELHI: Days after Iran summoned India’s envoy to protest a former BJP spokesperson’s remarks on the Prophet, the country’s foreign minister Hossein Amir-Abdollahian reached New Delhi on a four-day visit to India.

According to sources, import of crude oil from Iran could figure in the talks between Abdollahian and External Affairs Minister S Jaishankar on Thursday.  Speaking at Globsec 2022 in Bratislava just days ago, Jaishankar had said that if the US and Europe wanted countries to limit imports from Russia, they should consider putting Iran and Venezuela on the table for imports. Iran’s petroleum  output has increased to I million barrels per day and it is seeking other markets, which were blocked after US imposed sanctions on them. India was the second biggest buyer of Iranian oil after China before sanctions were imposed in 2019.

Meanwhile, a pact was signed on Wednesday between India and Iran on mutual legal assistance in civil and commercial matters. It is learnt that Iran is also inte  rested in a rupee-rial trade mechanism with India. The bilateral trade between the two countries during 2020-21 was $2.10 billion, a 56%  decline compared to the previous year of $4.80 billion. This has been attributed to the pandemic and is likely to pick up this year. If oil imports are okayed, this figure will shoot up.

While India exports rice, tea, sugar and fresh fruits, pharmaceuticals, machinery, jewellery to Iran, imports include dry fruits, chemical glass, semiprecious stone and leather. Expanding trade via Chabahar port to Afghanistan and Central Asia and Eurasia are also expected to be discussed during the talks, besides the situation in  Afghanistan and Ukraine,  said sources. Abdollahian is also scheduled to visit Mumbai and Hyderabad.

Iranian foreign minister meets PM Modi
Relations between India and Iran have benefited both the countries and have promoted regional security and prosperity, Prime Minister Narendra Modi said after Iranian Foreign Minister Hossein Amir-Abdollahian called on him on Wednesday. 

Crude oil


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