NEW DELHI: A day after the Donald Trump Administration of the United States allowed India and seven other countries to buy oil from Iran after it reimposes sanctions on it from November 5, Union Oil Minister Dharmendra Pradhan has credited Prime Minister Narendra Modi's “forceful campaign” in convincing the US authorities. 


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

''India got its way mainly due to a forceful campaign by PM Modi,'' the Oil Minister said on Saturday.


“Hon’ble Prime Minister’s forceful campaign has been that you can’t ignore interests of consuming countries. Understanding the geopolitical situation, India has been able to get its way. The US has given a waiver to some countries including India,” Pradhan said on the sidelines of an agreement signing event between CSC e-Governance Services and oil marketing companies — BPCL, India Oil and HPCL.


Pradhan also expressed hope that India and other leading oil buyers will benefit from the waiver the United States has granted them from Iran sanctions.


The United States said on Friday that 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. It did not name the countries which would benefit.


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.


Along with the sanctions that will be reimposed on Monday, US President Donald Trump on Friday reimposed a second set of penalties on Iran that were withdrawn under the 2015 nuclear deal. 


The announcement was made by US Secretary of State Mike Pompeo and Treasury Secretary Stephen Mnuchin. The second set of sanctions cover the middle-east country’s shipping, financial and energy sectors.


The sanctions will remain in place until Iran meets demands that include an end to support for terrorism and to military engagement in Syria. The United States has vowed to end all sales of Iranian oil, the country’s crucial export, as well as international banking transactions, snapping back sanctions lifted by Trump’s predecessor as US president, Barack Obama.


Further details of the United States` decision on Iran sanctions will be released on Monday.