New Delhi: Decision on oil imports will be taken after general elections in India, External Affairs Minister Sushma Swaraj has conveyed this to Iran.
In her meeting with visiting Iranian Foreign Minister Mohammad Javad Zarif, Swaraj said the decision on the oil imports will be taken after the elections.
Media reports said that the Iranian Foreign Minister initiated the dialogue on his own and briefed his Indian counterpart on the developments in the region including economic pressures owing to US sanctions.
According to reports, India is one of the eight countries which were exempted from a US-imposed ban on Iranian oil imports.
The US waivers has ended on May 1. Three of the eight countries i.e Taiwan, Italy and Greece, have already reduced oil exports from Iran to zero.
Observers maintained that India’s decision is likely to have a major impact on Iran’s economy.
India is the second largest importer of Iranian oil after China. Iran is India’s third largest supplier and offers trade opportunities via strategic Chabahar port.