India cuts Iranian oil imports in June ahead of U.S. sanctions

12 Juillet, 2018, 07:00 | Auteur: Anatole Charbonneau
  • Eshaq Jahangiri

Trump swipes at NATO spending ahead of summit Pompeo offers support for Taliban peace talks during surprise Afghan visit Trump: China may be exerting "negative pressure" on North Korea MORE ramped up his warnings to Iran on Tuesday, saying that the US and its Gulf Arab allies would pay a "real high cost" for Tehran's "malign behavior" in the Middle East and elsewhere.

"In our meeting with the Saudi energy minister, we discussed maintaining a well-supplied oil market to guard against volatility".

Referring to the U.S. sanctions on oil import from Iran, Rahaghi made it a point to mention that his country has been a reliable energy partner for India and has always followed a "rationale pricing" of oil which ensures the interest of both, consumers and suppliers.

The secretary of State's comments came as the US steps up pressure on Iran after President TrumpDonald John TrumpMcConnell to meet with Trump's Supreme Court pick Tuesday Kavanaugh offers lengthy judicial record ahead of bitter confirmation fight Hundreds protest Kavanaugh's nomination outside Supreme Court MORE's announcement in May that he would withdraw from the 2015 nuclear deal with Tehran, which sought to curb Iran's nuclear ambitions in exchange for sanctions relief.

State Department officials were joined by Treasury Department officials and spent three days in Saudi Arabia to discuss ways to economically isolate Iran, and at the same time, keep oil markets well-supplied, the official noted.

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Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.

The Chabahar port is considered a gateway to golden opportunities for trade by India, Iran, and Afghanistan with central Asian countries in the wake of Pakistan denying transit access to New Delhi. He also stopped by the US Embassy in Abu Dhabi. No other North Atlantic Treaty Organisation nations followed suit, but the United States has been making the rounds, pressuring nations worldwide to follow the new U.S. sanctions.

The other signatories to the accord, which include Russia, China, the UK, France and Germany, however, have strongly objected to the US's withdrawal, and vowed to try to preserve the deal.

Speaking to Press TV, author and political scientist Kaveh Afrasiabi, however, played down Pompeo's drive, saying his efforts will likely fail to produce any result. The policy was announced after Trump pulled out from the Iran nuclear deal - the Joint Comprehensive Plan of Action (JCPOA) - which had been signed by Obama in 2015.

Iran's foreign ministry and the central bank have taken measures to facilitate banking operations despite the U.S. sanctions, Jahangiri said without elaborating.

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