Iran will work to secure oil exports to India: Embassy

Iran’s Embassy in New Delhi says the Islamic Republic will do all in its power to ensure security of oil supplies to India.

“Iran understands the difficulties of India in dealing with [an] unstable energy market and it has done and will do its best to ensure security of oil supply to India,” the diplomatic mission said in a statement, as reported by The Times of India.

The Embassy said the country will be offering “flexible measures” to boost bilateral trade.

Iran is the third-biggest oil supplier to India, which, in turn, is the Islamic Republic’s top oil client after China.

The statement, however, said, “Iran has always been a reliable energy partner for India and others, seeking a balanced oil market and regional prices of oil which ensure the interest of both countries as consumer and supplier.”

Raveesh Kumar, India’s Foreign Ministry spokesman, meanwhile, said, “We do share a very strong, very good relationship. We are in touch with them (Iran) on several issues including on the fallout of the US withdrawal from the nuclear deal.”

Iran also wants India to expedite its investment and accelerate engagement for the development of the Chabahar port in southeastern Iran, the statement said.

Iran, India, and Afghanistan have signed an agreement to set up a trade and transport corridor that will have Chabahar as its hub.

The trilateral agreement has been described as a game changer for regional connectivity.

“We are committed to the development of the Shahid-Besheshti terminal of Chabahar port. We are moving with speed and scale and the work is underway on all interim operations,” Kumar said.

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