Russia, India vow to keep ‘beneficial’ trade with Iran despite sanctions

Russia and India have expressed their full commitment to continued trade with Iran despite American sanctions.

In a joint statement issued on Wednesday, the two emerging economic powers said trade with Iran was both beneficial and legitimate for them, saying economic cooperation with Tehran should continue.

The two countries said their decision to respect ties with Iran was in full compliance with international rules and would strengthen a nuclear deal between Iran and world powers, known as the JCPOA, which has suffered since the United States withdrew from the agreement last year and began imposing sanction on Iran.

“The sides acknowledge the importance of full and efficient implementation of the Joint Comprehensive Plan of Action on the Iranian nuclear program for ensuring regional and international peace, security and stability,” read part of the joint statement which came after a meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi in Vladivostok, in Russia’s Far East.

Both India and Russia have largely ignored US sanctions on Iran since they were enacted in November and then toughened in May.

The two countries have used alternative mechanisms to circumvent the sanctions and to continue trade with Iran.

SS