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Our Bureau A reduction in import of crude oil from Iran will squeeze the pockets of the common man, according to Congress.
Citing reports that claim there was a reduction in crude oil supplies from Iran in June, Jaiveer Shergill, media panellist at the All India Congress Committee said: “The reduction in supplies from Iran will increase fuel prices and bloat the current account deficit. This will further put burden on the common man.”
India imports 80 per cent of its requirement of crude oil from overseas and Iran is the third largest supplier of oil to India. India is the second largest client of Iran after China.
“Does the Narendra Modi government have a concrete plan to protect the Indian customer from the rise in fuel prices due to reduction in oil imports from Iran? This is a specific answer we seek,” Shergill said.
Taking jibes at a possible failure in the country’s foreign policy, he said: “The reduction in oil import from Iran also exhibits and once again proves that PM Modi’s foreign policy is confusing and circular. He has once again prioritised the United States’ interests over India’s interests when it comes to controlling fuel prices.”
In 2012, the UPA government had balanced the interests of Iran and the US, protected India’s interests and stood up against the US, he added.
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