Issues with Iran, including oil payments, resolved: Arun Jaitley
Most of India’s pending issues with Iran, especially those relating to payment for import of Iranian oil, have been resolved, Finance Minister Arun Jaitley has saidbusiness Updated: Oct 16, 2017 00:42 IST
Most of India’s pending issues with Iran, especially those relating to payment for import of Iranian oil, have been resolved, Finance Minister Arun Jaitley has said.
“There were several pending issues with Iran, particularly relating to the oil payment. Most of them have been resolved,” he told reporters on Saturday following a meeting here with Iranian Finance Minister Masoud Karbasian.
Jaitley, who is on a week-long visit to the US, led the Indian delegation to the annual meetings of the International Monetary Fund and the World Bank, as well as associated meetings.
Jaitley also said that India, which continued to import Iranian oil even during the sanctions regime on Iran imposed by the West, has a very stable relationship with the Persian Gulf nation.
“It’s very strategic for us, because the Chabahar port is not only going to service Iran, but also going to service Afghanistan,” he said.
India and Iran have agreed to develop the strategic Chabahar port on Iran’s southern coast, that will help Indian access to Afghanistan and Central Asia, bypassing Pakistan.
As per the agreement with Iran last year, India will equip and operate two berths in Chabahar Port Phase-I with a capital investment of $85.21 million and annual revenue expenditure of $22.95 million on a 10-year lease.
Economic Affairs Secretary Subhash Chandra Garg, who is part of Jaitley’s delegation, said Karbasian did not raise the issue of US President Donald Trump’s latest pronouncements on the Iran nuclear deal during his meeting with Jaitley.
Accusing Iran of violating the international nuclear accord, President Trump, on Friday, threatened to pull the US out of the deal and put sanctions against Iran back into place.
He said he would not certify to the US Congress by Sunday’s deadline whether Iran is complying with the accord, a certification the US President is required to make every 90 days.
The Iran nuclear deal was signed in 2015 between then US President Barack Obama’s administration, Iran, Britain, China, France, Germany, Russia and the European Union and endorsed thereafter by the UN Security Council through a unanimous vote.