India among the eight people likely to obtain a waiver for Iranian oil, the United States sanctioned on November 5

His post on Twitter Friday

India will likely be one of eight countries that can temporarily import Iranian oil after the sanctions, sources said. Friday, after US Secretary of State Michael R Pompeo said the US had agreed to exempt eight countries that had made "significant reductions" in oil imports. US sanctions against Iran will come into effect on November 5th.

"We expect to allocate temporary allotments to eight jurisdictions, but only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts. zero crude oil import. These negotiations are still ongoing. Two jurisdictions will completely terminate imports under their agreements. The other six will be imported at greatly reduced levels, "Pompeo told reporters during a conference call with Treasury Secretary Steven Mnuchin.

Pompeo said that countries like India, If they had an exemption, would be asked to bring down the price of oil, Iranian imports to zero in six months. "Negotiations are still ongoing, he said while explaining the reasons for which names of exempt countries would not be revealed.

Sources in New Delhi and Washington DC told The Indian Express that India "would" probably be among the eight countries. India will likely obtain a waiver for Iranian oil.The United States has not sanctioned any official communication so far.

"We are almost certain that India will probably be l & # 3 9, one of these eight countries, but we will wait for the announcement on Monday, "said a source.

Turkey stated that it was informed that it was one of eight countries, while the Bloomberg Financial News Agency reported that Japan and South Korea were the other countries apart from [19659004] The United States has announced its intention to reimpose sanctions on Iran as of November 5, while US President Donald Trump tweeted a photo of himself on a poster of the United States. Game of Thrones in which it was written that "sanctions are imminent". 19659010] pic.twitter.com/nk2vKvHuaL

– Donald J. Trump (@realDonaldTrump) November 2, 2018

"@realDonaldTrump President Reimposes All Sanctions Imposed As Part Of Unacceptable agreement with Iran. The United States is reimposing the most severe sanctions ever imposed on Iran, targeting many critical sectors of the corrupt regime, "tweeted the White House.

India, who is the second biggest buyer Iran is pushed by the United States to limit its monthly purchases to 1.25 million tonnes or 15 million tonnes per year (300,000 barrels per day), compared with 22.6 million tonnes (452 000 barrels per day) purchased during the fiscal year 2017-2018, according to sources.

New Delhi, however, they had repelled zero petroleum imports because of the negative impact on their economy and its inflationary impact

In September, during the Indo-American 2 + 2 dialogue, the United States told the Indian side that they were not there. Washington's interest in harming the Indian economy Sushma Foreign Ministers Swaraj and Pompeo discussed the issue of Iranian oil imports.

During the dialogue, the Indian side "positively" made known its position on Iranian oil imports. "We told them that we are an energy dependent country and told them frankly that the rapid reduction of Iranian oil imports would have an impact on our economy. We said that your policy should not affect our economy, "said the source.

According to the source, the United States responded that they" understood perfectly ", adding that it was" our policy ", but"

Thursday, the spokesman of the Department of External Affairs, Raveesh Kumar, said: "We have had several talks not only with the United States, but also with Iran and other stakeholders. With respect to the United States, they are fully aware of our expectations of domestic oil requirements, which are critical to sustaining our economic growth. "

" We have taken note of the US position The US Secretary, Pompeo, has indicated that the intention to impose sanctions on Iran should not harm the & # 39; 39; India. We want to engage and continue to engage with the United States and other stakeholders to ensure that our energy security is not compromised and that our national interests are also affected, "Kumar told reporters.

India is the world's third largest oil consumer, with 85% of its crude oil and 34% of its natural gas needs covered by imports.In 2016, India had imported 215 million tons of crude oil and, together with Saudi Arabia and Iraq, Iran ranked third among the 18 largest oil suppliers in the country, with 18% each.

Even at of the last set of sanctions between 2012 and In 2015, India had continued to import oil from Iran.Although the value of oil imports rose from 11.6 billion USD in 2011- 2012 to 4.3 billion USD in 2015-2016, it still climbed to 8.9 mil US dollars in 2017-2018

For New Delhi, the issue of oil imports will need to be addressed with its strategic interests with the United States. The re-imposition of sanctions will not only have an impact on oil imports, but will also have an impact on the development of Chabahar port. India has consistently reiterated that the Iranian port has strategic value and allows it access to Afghanistan and Central Asia.

Foreign Minister Vijay Gokhale highlighted the importance of Chabahar this week: "We are also seeking to develop the port as a gateway for the downstream connection to Afghanistan and Central Asia. Since its inauguration last year, we have shipped about 110,000 metric tons of wheat and 2,000 metric tons of legumes from India to Afghanistan via this port. To fully exploit its potential for Afghanistan, it may also be necessary to continue the development of a railway line connecting Chabahar to Zahedan at a later stage. There is also potential for development of the North-South International Transport Corridor, which will significantly reduce the time and cost of transportation between India and Central Asia. "

– (With PTI)

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