India Stands With Iran Against Trump's Sanctions

India Stands With Iran Against Trump's Sanctions

India Stands With Iran Against Trump's Sanctions

Iranian officials are plotting with US allies across the globe to develop a series a measures meant to counter new sanctions by the Trump administration following its abandonment of the landmark nuclear deal, setting up a global economic showdown between America and its allies over their future business dealings with the Islamic Republic.

Indian Foreign Minister Sushma Swaraj said New Delhi will not make foreign policy decisions under pressure from others.

India and Iran - the country's third-largest oil supplier - have long-standing political and economic ties, including the Chabahar port project.

The foreign minister's statement came hours before she met her Iranian counterpart Javad Zarif, who is in India to seek New Delhi's support for the multilateral nuclear deal that Trump scrapped.

India continued trade with Iran during previous sanctions but had to cut oil imports as the sanctions choked off banking channels and insurance cover for tankers.

India will reportedly pay for Iranian oil in rupees as the two countries seek to bypass the U.S. economic pressure on Tehran, industry officials have told the Sputnik news agency.

"Total has always been clear that it can not afford to be exposed to any secondary sanction, which might include the loss of financing in dollars by United States banks for its worldwide operations", the French company said a week after the USA withdrawal from the Iran deal.

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Bilateral trade between India and Iran amounted to $12.9 billion past year.

Sushma Swaraj with Javad Zarif in Delhi Monday.

"A major part of the oil is sold to India and China", Nobakht said.

"We will be sending out teams of diplomats and specialists to talk about specific concerns with the plan for re-imposition of USA nuclear-related sanctions and next steps with Iran", the official said.

"India follows only United Nations sanctions, and not unilateral sanctions by any country", she said. To continue with this quest, he has backed an "all of the above" energy strategy much like that of former U.S. president Barack Obama.

The regional bloc focusing on security and trade also includes four ex-Soviet Central Asian republics and two new members, Pakistan and India. Yes, they buy oil from them also, but the Venezuelan oil supply has become sketchy at best under Maduro. And, India wants a good relationship with Iran as a way of offsetting its hard relationship with Pakistan.

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