India explores economic opportunities in Iran, denting Western sanctions plan

The New York Times reports: India emerged as a major new irritant on Thursday in Western efforts to isolate Iran, announcing that it was sending a large trade delegation there within weeks to exploit opportunities created by the American and European antinuclear sanctions that are increasingly disrupting Iran’s economy.

The trade delegation announcement coincided with new reports that India, an important consumer of Iranian oil, had eclipsed China for the first time as Iran’s No. 1 petroleum customer last month, subverting efforts by the United States to persuade other countries to find non-Iranian sources for their energy needs or risk onerous penalties under a new American sanctions law.

The announcement also came ahead of a planned visit to India by Herman Van Rompuy, the European Union president, who was quoted in an interview with The Times of India as saying that he intended to seek the Indian government’s help in pressing Iran to give up its nuclear program.

It was unclear whether Mr. Rompuy knew at the time of the interview that India’s commerce secretary, Rahul Khullar, was about to announce a big economic push into Iran that could serve to counteract the effects of the very sanctions Mr. Rompuy has helped to promote.

“We will be mounting a mission to Iran at the end of the month to promote our own exports,” Mr. Khullar told reporters in New Delhi, according to Indian and Western accounts of his news conference. “A huge delegation will be going.”

In what amounted to a rejection of an underlying motive in the American-European sanction effort, Mr. Khullar said India already was honoring the four rounds of United Nations sanctions aimed at dissuading Iran from its uranium enrichment program. Those sanctions, he told reporters, do not apply to “a vast range of products which India can export to Iran.”

Even if the United States and European Union wished to shun business with Iran, Mr. Khullar said, “Tell me why I should follow suit?”

“Why shouldn’t I take up that business opportunity?” he asked.

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2 thoughts on “India explores economic opportunities in Iran, denting Western sanctions plan

  1. Norman

    Marginalization, so it begins, first Europe then the U.S. All with the blessings of the so called financial titans too. What is Europe without N.A.T.O., as well, what of the U.S. being overextended and without N.A.T.O.? Who will they get for backup, Israel? Fat chance! Israel will side with China & India, for that’s where the power lies today. Both have Nuclear capabilities and the means to deliver them too. And what of that story that the F-35 J.S.F. isn’t what it’s cracked up to be? That the Sukhoi T 50 is better, also that both the Chinese & Russians have advanced Radar that can detect the stealthiness of the F35?

  2. dickerson3870

    Say bye-bye to the U.S. dollar being the world’s reserve currency! The sanctions on Iran are really accelerating the demise of the U.S. dollar as the world’s reserve currency.

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