India has on Tuesday stated the government has underlined the United States decision to end sanction waiver to those nations importing Iranian crude oil and that it is “adequately prepared to deal” with the impact.
Ministry of external affairs (MEA) spokesperson Raveesh Kumar stated, “Government has noted the announcement by the US Government to discontinue the Significant Reduction Exemption to all purchasers of crude oil from Iran. We are adequately prepared to deal with the impact of this decision.”
The spokesperson added saying the Indian government will continue to work with its partner nations, including with the US, in order to find all possible ways to protect India’s economic and energy security interests, according to ANI news reports.
The US state department had in November issued the 180-day sanctions waivers to some eight nations importing Iranian crude oil in order to provide them additional time to pave alternative sources of purchasing oil.
Currently, India and China are the major buyers of Iranian crude oil, and if both nations fail to obey the US president’s demand, then it may cause disturbances in bilateral ties. Japan and South Korea have started being less dependent on Iranian oil imports and have begun treading lightly.
US President Donald Trump has said he was seeking Iran to come back to the negotiation table and ink a better deal than what was signed with ex-President Barack Obama. However, Iran has reiterated its refusal to Trump’s demand, stating it has no intentions of doing so.
Iran has denounced United States President Donald Trump’s decision, on Monday, to end US sanctions waivers for those countries importing Iranian crude oil, stating the sanctions were “principally illegal”.
In an official statement which was issued on Iranian foreign ministry’s official website, it cited: “Since the sanction in question are principally illegal, the Islamic Republic of Iran did not and does not attach any value or credibility to the waivers given to the sanctions.”