USA can't decide if we'll buy oil from Iran: India
NEW DELHI/ WASHINGTON DC: Iran is India's third largest source of hydrocarbon energy (oil and natural gas) and several Indian refining companies have for the last few years been working on contracts to further increase supplies from that country, which has remained an all-weather ally of ours right since the days of our first post-independence government led by Jawaharlal Nehru.
However, the USA's Donald Trump regime has openly ordered all countries to make "zero" purchase of Iran oil and gas by November 4 and followed this up with not-so-subtle warnings of serious punitive economic action against countries that refuse to play ball with America on this critical issue.
The Indian government has responded to the USA's threats in a dignified manner, with our counter-strategy being articulated in a strong statement by none other than Petroleum and Natural Gas Minister Dharmendra Pradhan himself. He has stated categorically that "India will be guided by whatever is in our national interest".
However, given the economic muscle and nuisance value of the world's sole superpower (China is still a distant second), Indian companies and banks are being forced to redesign their Iran purchase strategies.
But a large section of our country's political class, bureaucracy, energy industry fraternity, corporate sector leaders and geo-strategic community firmly believe that energy is too important an issue to be left to the whims and fancies of one nation, the USA, no matter how overwhelmingly strong it is. This is particularly the case as we have to meet over fourth-fifth of our hydrocarbon demand through imports.
Taking exception to the US telling India to end oil imports from Iran, AIMIM president Asaduddin Owaisi sought to know how America could "interfere" in issues involving India's sovereignty.
"Who is he to tell India? Who are you to say take (oil) from here, from there? Would the US president say what to buy and from where by interfering in India's sovereignty?" he asked while addressing a public meeting in Hyderabad.
Stating that Europe, Russia and China have now turned against America, Owaisi, a Lok Sabha member from Hyderabad, said India should also firm up its policy.
Meanwhile, US President Donald Trump said on Saturday that Saudi Arabia's King Salman had agreed to his request to ramp up oil production, a week after Opec already announced an output rise. "Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & dysfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference," Trump announced in an early morning tweet. "Prices too high! He has agreed!"
