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Looking at resuming crude oil supply to India, expanding trade basket: Iran

2025-01-03 00:00:00.0 商业标准报-经济和政策原网页

Iran is looking at ways to resume supplying crude oil to India and is keen on expanding the overall trade basket including in the petro-chemical sector through the strategically-located Chabahar port, a senior Iranian official said on Thursday.

Tehran is also keen to expand counter-terror cooperation with India as the possibility of rise in the terrorist activities looming large over West Asia in view of the fragile situation in the region, especially in Syria, he said.

The senior Iranian official told a group of journalists that the incoming Donald Trump administration is unlikely to be similar to that of his first term towards Tehran as the global geopolitics have undergone significant changes with China increasing its strategic heft.

In his first term as the US president, Trump tightened the noose of sanctions on Iran, eyeing over 80 per cent of the country's economy and even ended Washington's participation in the 2015 nuclear deal with Tehran.

On the overall situation in West Asia, the Iranian official on condition of anonymity said the Palestinian issue is now "more internationalised" because of Israel's brutal actions in Gaza and nobody would be able to "erase" it from the global agenda.

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"The core issue has been the occupation of Palestine and it must be addressed. We want to see an independent Palestine state," he said.

Pitching for resumption of supply of Iranian crude oil to India, the official said both sides need to find a way out. India stopped procurement of crude oil from Iran in mid-2019 following sanctions on the Persian Gulf nation by the Trump administration.

"It is important to address this issue," the Iranian official said on resumption of supply of Iranian crude oil to India.

The remarks came when asked why India is buying crude oil from Russia despite Western sanctions and why it is not doing the same for Iranian crude oil.

"The circumstances of sanctions against Russia and Iran are different. We need to see how this issue can be resolved. We do not want any hardships for India," the official said.

At the same time, he indicated that the issue is on the table for discussions between India and Iran.

The official said the development of Chabahar port has offered significant opportunities for India and Iran to boost trade and economic engagement.

The port is outside the purview of US sanctions against Tehran.

"We think there are many untapped opportunities around the Chabahar Port and it could be a significant point for economic relations," he said.

Without elaborating, the official said India has evinced interest in cooperation in the petrochemical industries around the port.

Located in the Sistan-Balochistan province on the energy-rich Iran's southern coast, the Chabahar port is being developed by India and Iran to boost connectivity and trade ties.

"We need to look at the future to further enhance our cooperation in Chabahar," the senior Iranian official said.

In May last year, India signed an agreement with Iran to operate the Shahid Beheshti terminal of the port for the next 10 years.

On non-oil trade between India and Iran, he identified tourism and agriculture as areas having immense potential.

The official identified terrorism as a major challenge facing both India and Iran and underlined the importance of expansion of cooperation between the two sides to confront the challenge.

The fragile situation in West Asia, especially in Syria is likely to fuel the upsurge of terrorism in the region, he said adding India and Iran need to work closely to deal with the challenge.

On Pakistan supporting cross-border terrorism against India, the official said all the concerned countries must work against terror networks.

The Iranian official said Tehran has not recognised the Taliban regime in Afghanistan and it supports a government with broad representations from various groups to rule that country.

He acknowledged Iran's growing closeness with China and that Beijing is getting stronger because of its economic heft across the globe.

"The Iran-China engagement is not only oil-trade related. It is much more than oil and trade," he said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)