Sanctions on Iran counterproductive, says India

[Choppers]

Sanctions on Iran counterproductive, says India​

SPECIAL CORRESPONDENT

India believes sanctions on Iran are counterproductive, the government told Parliament on Tuesday in the first public articulation of the government’s views on U.S. efforts to tighten the screws on the Islamic Republic.

The statement was made in response to a question about whether Washingtion had objected to Indian gasoline sales to the Islamic Republic.

In a written answer to the Rajya Sabha, Jatin Prasada, the junior minister for petroleum and natural gas, said Reliance Industries Ltd was the only Indian company to supply petrol to Iran in 2009. “The U.S. government has not raised the matter [of Reliance exports] with the Government of India”, he said.

But the minister added that the Indian government “has conveyed to the US government that sanctions on Iran have proved to be counter-productive and that all differences with Iran should be resolved peacefully through dialogue and negotiation.”

Due to shortage of refining capacity, Iran, which is one of the world’s largest producers of crude oil, imports a substantial amount of refined products for domestic consumption.

The U.S. is currently trying to drum up international support for the imposition of U.N. sanctions on petrol and diesel sales to Iran as a means of putting pressure on Tehran’s nuclear energy programme.

The Hindu : News / National : Sanctions on Iran counterproductive, says India

 

[Justin Joseph]

After US ask Reliance Industries, not to export its petrochemical products to Iran.

Reliance now exports that same products to USA so its not a loss for Reliance but a gain of new market. I think this is called smart move by Reliance Industries the owner of World's largest refinery at Gujarat, India.

 

[Abi]

Sanctioning petroleum was a good thing for Iran. It allowed the Government to increase fuel prices and decrease subsidies whilst blaming America for the high costs. It is also making the government heavily invest in refineries and within a few years will be net exporters.