Crude imports may figure in Iran, India’s Foreign Minister talks

NEW DELHI: Iran’s foreign minister Hossein Amir-Abdollahian is in on a four-day visit to India and will meet External Affairs Minister S Jaishankar on Wednesday.

"Import of oil from Iran to India could figure in the talks between the two foreign ministers. If you recall just two days back, S Jaishankar, while speaking at Globsec 2022 in Bratislava, had said that if the US and Europe wanted countries to limit imports from Russia they should consider putting Iran and Venezuela on the table for imports,’’ sources said.

Iran’s petroleum output has increased to one million barrels per day and it is seeking other markets, which were blocked after the US imposed sanctions on them. India was the second biggest buyer of Iranian oil after China before sanctions were imposed in 2019. It is also learnt that Iran was interested in a rupee-rial trade mechanism with India.

India and Iran’s bilateral trade during 2020-21 was $2.10 billion which was a 56 per cent decrease compared to the previous year of $4.80 billion. This has been attributed to the pandemic and is likely to pick up this year. Also, if oil imports are permitted this figure will shoot up.

While India exports rice, tea, sugar and fresh fruits, pharmaceuticals, machinery, and jewellery to Iran, imports from there at present include dry fruits, chemical glass, semiprecious stone and leather.

Expanding trade and supplies via Chabahar port to Afghanistan and Central Asia and Eurasia are also expected to be discussed during the talks. The situation in Afghanistan and the Taliban are also likely to be talked about, say sources.

Meanwhile, Abdollahian is also travelling to Mumbai and Hyderabad. The Iranian foreign minister was expected to visit India earlier this year but had to postpone it as Jaishankar was down with Covid-19.