You are here: Home » PTI Stories » National » News
Business Standard

Iranian Foreign Minister arrives in Delhi on Tuesday

Press Trust of India  |  New Delhi 

Iranian will arrive here on Tuesday to hold talks with primarily on impact of the US ending waivers on import of from Iran, and ways to deal with it, official sources said.

According to the Ministry of External Affairs, will arrive at 11.45 PM on Tuesday and depart at 2:30 PM on Wednesday.

His visit comes, 12 days after six-month-long exemptions from US sanctions to and seven other countries to buy from ended.

The issue is expected to figure prominently in the talks, the sources said.

After the exemptions expired on May 2, said it will deal with the issue based on three factors -- the country's energy security, commercial consideration and economic interests.

said was prepared to deal with the impact of the US decision.

In May last year, the US had brought back sanctions on after withdrawing from the nuclear deal which was struck in 2015.

The US had told India and other countries to cut imports from the Gulf nation to "zero" by November 4 or face sanctions. However, had granted a six-month waiver from sanctions to eight countries, including India.

India, which is the second biggest purchaser of Iranian oil after China, had agreed to restrict its monthly purchase to 1.25 million tonne or 15 million tonne in a year (300,000 barrels per day), down from 22.6 million tonne (452,000 barrels per day) bought in the 2017-18 financial year.

The world's third biggest oil consumer, India meets more than 80 per cent of its oil needs through imports. Iran is its third largest supplier after and and meets about 10 per cent of its total needs.

Sources said the project is also likely to figure in the meeting between and Swaraj.

Indo-Iran ties have been on a upswing in the last few years. visited in May 2016 with an aim to craft a strategic relationship with Iran and expand India's ties with

During the visit, India and Iran signed nearly a dozen pacts, centrepiece of which was an agreement on development of

Later, India, Iran and signed a trilateral pact providing for transport of goods among the three countries through the port.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 13 2019. 20:06 IST
RECOMMENDED FOR YOU