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US asks India to stop oil imports from Iran by November 4

Trump administration threatens sanctions for carrying out any transaction with Tehran

Washington: The US has told all countries, including India and China, to stop their oil imports from Iran by November 4 or face sanctions for carrying out any transaction with Tehran as there would be zero waivers to any country.

“On China and India, yes, certainly,” a state department official told reporters when asked if the US has told all countries, including India and China, to stop all their imports of Iranian oil by November 4.

The US official said Indian and Chinese companies would be subject to the same sanctions as those in other countries. The official said these countries should start reducing the import of oil from Iran now and bring it to zero by November 4. The official said this is part of the Trump administration’s effort to isolate streams of Iranian funding and are looking to highlight the totality of Iran’s malign behaviour across the region.

“We remain engaged with the EU-3 throughout this process, and we are going to continue to branch out in new countries and reach new partners as the weeks go forward,” the official said.

The EU three refers France, Germany, and the United Kingdom. Iran’s oil import could emerge as a major topic of discussion between India and the US during the first 2+2 dialogue next week.

External Affairs Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman would be in the US next week for talks with their American counterparts Secretary of State Mike Pompeo and Defence Secretary James Mattis.

The State Department asserted that there would be no waivers under the new sanctions regime.

Their (India and China) companies will be subject to the same sanctions that everybody else’s are if they engage in those sectors of the economy that are sanctionable, where there were sanctions imposed prior to 2015 US official

 

 

  • Iran is India’s third-largest oil supplier behind Iraq and Saudi Arabia.
  • the huge energy needs, India and China are major importers of Iranian oil.

N-deal impact

  • President Donald Trump withdrew the US from the Iran nuclear deal in May to pursue a maximum pressure campaign against Tehran’s atomic programme.
  • His administration gave foreign companies either 90 or 180 days to wind down their business with Iranian counterparts, depending on the type of commercial activity.
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