India will not implement US sanctions against Iran

India will not implement US sanctions against Iran
ID : N-1845 Date : 2018/05/27 - 11:53

(Persia Digest) – Iran-India Chamber of Commerce and Industry Deputy reiterated that India will continue trade with Tehran and will not join US sanctions against Iran.

P S Chandihok told IRNA: “New Delhi will make its own decisions based on its own interests. India will continue to trade with Iran for as long the as the UN has not imposed sanctions on Iran.”

On the potential impact of US sanctions on Indian projects in Iran’s southern Chabahar Port, he said: “New Delhi will continue its project in developing the Port for as long as the UN has not imposed sanctions on Iran.”

When asked about the effects of possible oil prices rises on the Indian economy due to the reimposition of US sanctions on Iran, he commented: “This is not in India’s benefit. Indians are already suffering from petrol and gasoil prices, especially prior to the 2019 general elections in the country. An increase in global oil prices could affect the outcome of these elections. India is aware that Iran has always acted positively about oil supply, prices, and payment. The Indian government will try to engage in further negotiations with Iran to reduce fuel prices in India.”

P S Chandihok continued to speak about trade between the two countries despite US sanctions against Iran, saying: “I am hopeful that the current trend will not greatly affect trade between India and Iran. To soften the impact, the two countries will have to sign a Preferential Tariffs Agreement as soon as possible to increase mutual volumes of trade and investment.”


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