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http://www.asharqe.com/news.asp?section=1&id=28949
2. IRAN
Indian Minister: Western Sanctions Not to
Affect India's Trade with Iran
TEHRAN (FNA)- India's Minister of External
Affairs said that Somanahalli Mallaiah
Krishna said that New Delhi is studying the
impacts of the Western sanctions against
Iran on India, but at the same time
stressed that the sanctions will not affect
the country's trade with Iran.
The announcement was made by Krishna
on Thursday in a written letter to the
upper house of Indian parliament.
In January, India's Finance Minister Pranab
Mukherjee underlined New Delhi's resolve
to continue oil imports from Iran despite
the sanctions imposed on Iranian oil by
the US and the European Union.
"It is not possible for India to take any
decision to reduce the imports from Iran
drastically, because among the countries
which can provide the requirement of the
emerging economies, Iran is an important
one," Mukherjee told reporters in Chicago
at the end of a two-day visit.
Also, media reports said in February that
Iran's crude exports to India have
increased to 550,000 barrels a day in
January which shows a 37.5% growth
compared with the same period last year.
"The government is studying the impact
on India of the problems that have arisen
due to imposition of sanctions against
Iran," he said, adding that the US and the
European Union sanctions will not affect
trade with Iran.
India, the world's fourth-largest
petroleum consumer, is Iran's second
largest oil customer after China and
purchases around $12 billion worth of
Iranian crude every year, about 12 percent
of its consumption.
The Indian official added that the New
Delhi that it is working to continue crude
oil purchase from Iran.
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