Envoy says Iran looks to 'new era' of ties with India

Tehran expects India to resume oil imports from Iran and move on the next phase of developing the Chabahar Port project, the country's ambassador to New Delhi has said.

Iranian Foreign Minister Hossein Amir-Abdollahian will visit India later this month to attend the India-Iran Joint Economic Commission, with Ambassador Ali Chegeni believing that it will “herald a new era” for the countries.

According to Press TV, India was the second largest importer of oil from Iran after China until May 2019 when it stopped purchases under pressure from the former Trump administration.

According to Chegeni, trade between India and Iran exceeded $17 billion in 2018-19 and had the potential to reach $30-35 billion this year had New Delhi not stopped Iranian oil imports.       

India's Prime Minister Narendra Modi had forged close relationship with former US President Donald Trump who crafted the most draconian sanctions ever on the Islamic Republic with the express aim of bringing Iran's oil imports down to zero.

While little has changed under Trump's successor, the new Iranian administration is intent to deprioritize relations with the west and build closer cooperation with the regional countries - and India is no exception.

“We have no limit, no ban, no barrier in developing our relationship with India," Chegeni said in an interview with India's online newspaper ThePrint.

"India used to be our big customer of oil, and we were the first country to export oil to India based on the rupee. It was recognition of the rupee as international money, instead of using the dollar or some other currency. We did that also to buy commodities from India,” he said.

Iran apparently hopes Foreign Minister Amir-Abdollahian's visit to India will put trade back on track.

ME