Decision on Iran imports to be based on India’s interests: Oil Minister

Tehran, June 29, IRNA -- India will take a call on its imports from Iran based on its own interest and not under pressure, Oil Minister Dharmendra Pradhan said on Thursday, responding to the US call to cut imports from Iran. “We will decide. Certain things are not to be judged on the opinions or somebody’s reaction,” Pradhan said. “India is a very stable market and matured economy. India’s leadership is very vigilant, and we will go by our interest,” he told reporters here. The US has told all countries, including India and China, to stop their oil imports from Iran by November 4 or face sanctions. The Indian government has not commented on this issue yet. The government has maintained that it does not accept unilateral sanctions, such as the one imposed by the US on Iran, but follows the sanctions by United Nations. But industry sources have been talking about public sector oil companies looking at cutting down their sourcing from Iran, primarily because domestic banks have expressed discomfort in transactions with Iran. “We have a multi-country energy basket,” Pradhan said. “We source crude oil from across the globe at competitive prices. No oil producing country, whoever they may be, can ignore my requirement or my expectation. My interest is paramount to me,” he said. Talking on the sidelines of the ninth bidding round for city gas distribution in the country, Pradhan said he was confident of investments in the sector from private sector, given it offers visibility of profits. 1378/IRNA