Economy

Clinton welcomes move to cut Iran oil imports

| Updated on: May 08, 2012

The visiting US Secretary of State, Ms Hillary Clinton, on Tuesday commended India for the steps its refineries are taking to reduce imports from Iran.

"We have also been consulting with India and working with them in some areas on alternative sources. We had a very good discussion of these issues during my visit. Our energy coordinator will be here with an expert team next week to continue these consultations but there is no doubt that India and the US are after the same goal,” Ms Clinton said in media interaction.

The Secretary of State added that United States and India share the same goal--- of stopping Iran from getting a nuclear weapon.

"India has been a strong partner in urging Iran to live up to its international obligations and to use the P5+1 talks that began again to demonstrate unequviably the peaceful intent of its nuclear programme” she added.

Pointing out that Iran is a key country for India’s energy needs, the External Affairs Minister, Mr S.M. Krishna, said we have to look at the Iran issue beyond that of energy trade.

"In the first place we have to think about the security and stability in the Gulf region. India has vital stakes in the Gulf region. Six million Indians live and work in the Gulf region and beyond. It is one of the critical destinations of our external trade of over $100 billion in exports and over 60 per cent of oil goods and a major source of remittances,” Mr Krishna said.

The Minister added that Iran remains an important source of oil for India. "Although the share of its imports are declining, which is well known. Ultimately it is left to the decision that refineries make based on commercial, financial and technical considerations,” Mr Krishna said.

Published on March 12, 2018

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