The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it re-imposes sanctions on Monday to try to force Iran to curb its nuclear, missile and regional activities.
“Hon’ble Prime Minister’s forceful campaign has been that you can’t ignore interests of consuming countries. Considering the geopolitical situation, India has been able to get its way. The US has given the waiver to some countries including India,” Oil Minister Dharmendra Pradhan told reporters on the sidelines of an agreement signing event between CSC e-Governance Services and oil marketing companies – BPCL, India Oil and HPCL.
The US on Friday granted an exemption to eight countries including India to continue buying oil from Iran. USA sanctions on Iran will come in effect on November 5. The US wanted all countries to stop buying oil from Iran by November 4. This was a major impediment for India as it is heavily dependent on Iranian oil. India has now got a temporary reprieve.
“I give credit of this to emerging acceptance of world leadership of Prime Minister Narendra Modi. From this campaign, not only India but other consuming nations will be benefitted. The nitty-gritty of this will come gradually,” he said.
Having abandoned the 2015 Iran nuclear deal, US President Donald Trump is trying to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions and its ballistic missile programme but its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East.
China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been top importers of Iran’s oil, while Taiwan occasionally buys cargoes of Iranian crude but is not a major buyer.