India has said that unilateral sanctions should not impact its legitimate trade interests with Iran. The US and EU have proposed imposing sanctions on Iran for following a nuclear policy.
After talks with the visiting Iranian Foreign Minister, Mr Ali Akbar Salehi, the Minister for External Affairs, Mr S.M. Krishna, indicated that Iran remained an important source of oil for India.
On the issue of US sanctions on Iran and its impact on trade, Mr Krishna said that India has always abided by the United Nation's Security Council resolutions on Iran. “As far as other sanctions, those decided unilaterally or regionally, we are aware of such measures. In a globalised world, these actions can have an impact on the markets,” the Minister said, pointing out that “Our commercial entities take these into account. Such measures should not impact on legitimate trade interests.”
Turning his attention to energy, the Minister said India is dependent on imports to meet the bulk of its requirements. He added that given the growing demands it is natural for the country to diversify its import to meet the objectives of energy security. Mr Krishna added that in this context Iran is a key country for India's energy needs.
The visiting Iranian Foreign Minister said that Iran has been a reliable partner for India on matters of energy security and will continue to be so. The visiting dignitary also urged India to look at energy resources that were reliable. “Iran is an important neighbour and crucial trade partner for India, and also a major source of our energy supplies,” Mr Krishna added.
Mr Salehi is in India as a Special Envoy of Iranian President, Mr Mahmoud Ahmedinijad, to extend an invitation to the Prime Minister, Dr Manmohan Singh, to attend the Non-Aligned Movement (NAM) Summit to be held in Tehran in August.