Published: Wed, May 30, 2018
Worldwide | By Angelina Lucas

India to ignore United States sanctions on Iran, Venezuela, says FM

India to ignore United States sanctions on Iran, Venezuela, says FM

But Swaraj said New Delhi did not believe in "reactionary" policies and would not be dictated to by other countries.

"India follows only United Nations sanctions and not unilateral sanctions by any country", she said when asked about New Delhi's response to the U.S. decision to withdraw from a 2015 key nuclear agreement and re-impose sanctions against Tehran.

Iran and India enjoy deep relations in political and economic sectors.

Swaraj is scheduled to hold talks with Iranian Foreign Minister Mohammad Javad Zarif later on Monday.

India and Iran have long-standing political and economic ties, with Iran one of India's top oil suppliers."Zarif briefed about the discussions that Iran has undertaken with parties to the Joint Comprehensive Plan of Action following the U.S. decision to withdraw from the Agreement", said an Indian government statement, without elaborating. Iran has now developed insurance instruments of its own for its oil exporting tankers and also built a small fleet of such tankers, so that some of the tactics the Obama administration tried to marginalize Iran are now more easily overcome.

The State Department also is scrambling to respond to Iran's efforts by building a counter-coalition aimed at isolating Tehran and any nation that works with Iran to skirt new US sanctions, USA officials told the Washington Free Beacon.

India does $115 bn in annual trade with the USA, but that with Iran is $13 bn a year.

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Citing committee members, the report said that purchasing the Russian system would make it hard for the USA to share sensitive technology with India.

India, however, has made it clear that it has not abided by the USA sanctions on Iran or Venezuela in the past, neither will it this time.

The United States on Monday expressed reservations about a proposed arms deal between India and Russian Federation for five S-400 surface-to-air missile systems, The Hindu reported.

What's more of a puzzle, though, is why they continue to support Venezuela. This plan allows India to compete with the joint China-Pakistan port of Gwadar in Pakistani Baluchistan, giving it a geo-strategic reach-around Islamabad and Beijing.

Both Venezuela and Iran are key oil suppliers to India.

During the Iranian president's February visit, both parties signed some nine agreements, including handing over the port's operation to India for 18 months. Also, India has their own history of conflict and experience with countries that fall under socialist or communist dictators in their part of the world.

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