The Ministry of External Affairs (MEA) on Wednesday said India has welcomed the announcement of lifting of nuclear-related sanctions against Iran, adding that the milestone represented a significant success for patient diplomacy, and signalled a new chapter of peace and prosperity.
It further added that India looked forward to further developing its longstanding, close and mutually beneficial economic cooperation with Iran, including in the spheres of energy and regional connectivity.
Western powers imposed sanctions on Iran over fears it was planning to use its atomic programme to develop nuclear weapons, although Tehran always maintained its nuclear ambitions were peaceful.
Iran has the fourth biggest oil supplies in the world and the free flow of Iranian oil into the world market could mean lower prices at the pumps.
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