India rejects US embargo, to import oil from Iran

New Delhi - 18 Jan 2012: Even as China cuts down drastically its oil imports from Iran, which is soon likely to run into fresh sanctions from the US and the EU, India on Tuesday declared it will continue to import crude oil from the country.

Brushing aside US sanctions that prevent financial institutions from doing business withTehranand its central bank,foreign secretary Ranjan Mathaistated that India will only accept sanctions imposed by theUN.

"We have accepted sanctions which are made by the UN. Other sanctions do not apply to individual countries. We can't accept that," said Mathai, adding that India had not sought any waiver from US sanctions.

This was even as EU high representative for foreign affairs , Catherine Ashton, told TOI on Tuesday that the sanctions against Iran by the EU, which is on the verge of banning oil imports from Iran, are designed to make Iran fulfill its obligations as a signatory to the NPT. "It's not impossible for countries like India to have a strategic relation with Iran and yet convey that it is not fulfilling its international commitments in pursuing a nuclear weapons programme. The sanctions are designed to prevent Iran's nuclear programme and nothing beyond that," Ashton said.

source: TOI