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Iran oil minister in Delhi amid 60-day US sanctions waiver

Iran oil minister in Delhi amid 60-day US sanctions waiver

NEW DELHI: Amid easing of sanctions on Iran, India and Tehran on Thursday discussed enhanced cooperation in the hydrocarbon sector.Oil minister Hardeep Singh Puri met his Iranian counterpart Mohsen Paknejad days after the US-Iran MoU to end the West Asia conflict and amid the possibility of Iranian crude returning to the market following a 60-day easing of US sanctions. “We explored opportunities to cooperate in the energy sector. India remains committed to enhancing energy security through dialogue, partnership and mutually beneficial engagement,” Puri said after a meeting on the sidelines of the Brics energy ministers’ meeting. The embassy of Iran also posted on X that the two sides emphasised the importance of expanding bilateral cooperation in the oil, gas and energy sectors and explored ways to further strengthen energy ties between Tehran and New Delhi.India stopped crude purchases from Iran in 2019 after the US imposed sanctions on Tehran. At its peak, Iranian crude accounted for over 11% of India’s total imports. As per data, Indian refiners purchased 5 lakh tonnes of crude from Iran in April after a gap of nearly seven years, following a 30-day US sanctions waiver that lapsed on April 19.

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