No sanctions on Iran: Sushma

No sanctions on Iran: Sushma

News:

1. Indian External Affairs Minister has assured that India will not accept sanctions imposed, or to be imposed, by the United States on Iran

Important Facts:

2. The statement came in the backdrop of US’s withdrawal from Joint Comprehensive Plan of Action (JCPOA) nuclear agreement, popularly known as the Iran Nuclear Deal. The USA had thereafter announced reimposing sanctions on Iran.
3. India affirms that India recognises only UN sanctions.
4. Swaraj’s comments and the visit by Mr. Zarif to Delhi indicate the government intends to continue its engagement with Iran despite U.S. sanctions.
5. India hope to find a way for banking and insurance restrictions that may come about as the U.S. increases pressure on European banks on which the India-Iran trade depends on.
6. India-Iran Relation:

• Iran is India’s third-largest oil supplier
• In 2016-17, India-Iran bilateral trade accounted for about $13 billion of which about $5 billion was in non-oil trade
• Strategic relation: management of the Shahid Beheshti Port in Chabahar, co-development of the International North-South Transport Corridor to Russia