The US on Monday re-imposed sanctions on import of crude oil from Iran but temporarily allowed India, China, South Korea, Japan, Italy, Greece, Taiwan and Turkey to continue the purchase from the Gulf nation without any penalty.
"We appreciate that the US government has taken into account our need for energy security and understood our sensitivities on this matter. We welcome this. We are now examining the details of the exemption," External Affairs Ministry Spokesperson Raveesh Kumar said.
"India is a major importer of crude oil from Iran. This is very important for our own energy security needs. We appreciate the fact that US has shown understanding of our position and have said that their intention is not to hurt India," he said.
"I am not at the liberty to give you details about the quantum of crude oil that we will continue to import," Kumar added.
"We have taken note of the US statement that exception has been provided under the Iran Freedom and Counter Proliferation Act of 2012 with respect to development of Chabahar Port and the construction of an associated railway line," he said.
"We appreciate that the US recognised the role which this port will play to bring strategic and long term benefits to Afghanistan as well as enhance Afghanistan's connectivity with the outside world," Kumar added.
Ports in Iran have also come under the US sanctions.
The port is being considered crucial for trade among the three countries in the wake of Pakistan denying transit access to India.
In May 2016, India, Iran and Afghanistan had signed a pact which entailed establishment of a transit and transport corridor among the three countries using Chabahar Port as one of the regional hubs.
India had requested the US to allow it to continue its engagement in the Chabahar port, saying it can be a major link for trade with war-ravaged Afghanistan.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)