OIL & GAS

Iran expects India to source its oil, devise new barter trade: Iranian minister

Amid mounting tensions between the US and Iran, Iranian foreign affairs minister Mohammad Javad Zarif on Thursday said India will not find a stable and reliable energy partner other than Iran. He said losing Iran as a reliable source of energy will not make Indian economy more reliable.

“For India’s economic growth you need more and more energy and energy security, which has been an area of concern. I can assure you that you can’t find an energy partner which is more stable more reliable than Iran.

“We never involved politics in our energy relations. And if we did, we don’t have political problem with India. We are the secured source of energy for India,” he said at the FIEO meeting here.

India had stopped importing oil from Iran after the US refused to extend exemption from sanctions since last year.

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