Sunday, January 29, 2012

India snubs US call for ban on Iran oil


Indian Finance Minister Pranab Mukherjee (file photo)

Source: Press TV
http://www.presstv.ir/detail/223832.html

India has refused to bow to Washington's pressure on Delhi to cut its energy ties with Tehran, saying it will continue to buy Iranian oil despite US and EU sanctions.

Indian Finance Minister Pranab Mukherjee made the remarks at the end of a two-day visit to Chicago on Sunday.

"It is not possible for India to take any decision to reduce the imports from Iran drastically, because among the countries which can provide the requirement of the emerging economies, Iran is an important country amongst them," the Indian finance minister said.

India, the world's fourth-largest petroleum consumer, is Iran's second largest oil customer after China and purchases around $12 billion worth of Iranian crude every year, about 12 percent of its consumption.

On December 31, 2011, US President Barack Obama signed into law new sanctions against Tehran, seeking to penalize countries importing Iran's oil or doing transaction with Islamic Republic's Central Bank.

Also during their meeting in Brussels on January 23, EU foreign ministers reached an agreement to ban oil imports from Iran, freeze the assets of Iranian Central Bank across the EU, and ban sales of grains, diamonds, gold and other precious metals to the country.

Washington has been trying to persuade emerging economies in Asia -- Iran's biggest oil market -- to cut imports of petroleum from the country. Both India and China have voiced opposition to the sanctions.

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

WikiLeaks Co-Founder Julian Assange Released from UK Prison

Russian / Ukraine War - (June 25, 2024)

CrossTalk | NATO Chooses War - (May 29th, 2024)

Pepe Escobar: Eurasia vs. Natostan is the Defining Struggle of Our Time (Apr - 11th, 2024)

Geopolitical Storm Brewing from Palestine to Ukraine

We don’t want war with Israel, but if they impose it on us, we are ready – Hezbollah

ICJ delivers ruling in favour of South Africa

South Africa's Closing Argument Against Israel for Genocide at the ICJ

Shahid Bolsen - Message to the Israeli people

Roger Waters - To Whom It May Concern: Please Stop.

How the US Global Order is Challenged - With Pepe Escobar (Nov 20, 2023)

Putin shows treaty on Ukraine’s neutrality, signed by Kiev but dumped under Western pressure

Totalitarianism, Censorship and Syria with Peter Lavelle, Vanessa Beeley & Kevork Almassian

Assad's speech at the Arab League Summit - what it means for the future of the region

Assad returns to Arab League

HUGE China brokered deal, Iran & Saudi Arabia restore diplomatic ties

Nord Stream pipeline & sabotaging peace w/Jeffrey Sachs

The Tragedy of Ukraine

Historical Events that Led to the Start of the Ukraine Conflict

Your Wars Will Destroy the Planet - Roger Waters

Healthy Athletes suffer Heart Problems After Getting the Jab