Iran Nuclear NewsClinton presses India to cut oil imports from Iran

Clinton presses India to cut oil imports from Iran

-

AP: U.S. Secretary of State Hillary Rodham Clinton urged energy-starved India on Monday to reduce its Iranian oil imports to keep up pressure on the Islamic republic to come clean about its nuclear program. The Associated Press

By MATTHEW LEE

KOLKATA, India (AP) — U.S. Secretary of State Hillary Rodham Clinton urged energy-starved India on Monday to reduce its Iranian oil imports to keep up pressure on the Islamic republic to come clean about its nuclear program.

Clinton told a town hall meeting in the eastern city of Kolkata that there’s an adequate supply in the market for India to find alternative sources of oil. Clinton noted India has taken some steps to reduce its imports from Iran but she says the U.S. wants to see more.

“If there weren’t an adequate supply … we would understand, but we believe that there is adequate supply,” she said.

India could face U.S. sanctions by the end of June if the Obama administration determines it has not made significant cuts in imports under a law aimed at squeezing Iran’s petroleum industry to press the country to prove its nuclear program is peaceful.

India, with a growth rate of about 7 percent, has a nearly insatiable need for oil. About 9 percent of its oil imports are from Iran, though officials say it has reduced its dependency on Iranian oil in recent months,

“We appreciate what has been done and, of course, we want to keep the pressure on Iran,” Clinton said.

However, India remains dependent on the imports, and Iran is its second largest oil supplier after Saudi Arabia. With international sanctions making it difficult to find banks willing to handle Iranian oil payments, India and Iran reached an agreement earlier this year that would allow India to pay for about 45 percent the purchases in rupees. Iran would then use the Indian currency to buy goods from India.

Clinton said the U.S. remained focused on putting global pressure on Iran.

“We believe, at this moment in time, the principle threat is a nuclear-armed Iran,” she said. “We need India to be part of the international effort.”

Clinton was also meeting Monday with West Bengal Chief Minister Mamata Banerjee, a key partner of India’s ruling coalition who has stymied government efforts to lift restrictions on foreign-owned investments in the country.

Clinton was expected to talk with Banerjee about allowing multi-brand retailers such as Wal-Mart to enter the market.

Last year, India’s Cabinet had to rescind a decision to open up its market to major foreign retailers after Banerjee balked at the move, saying it would crush small domestic retailers.

“I will certainly raise the United States’ desire to try to open the market to multi-brand retailers,” Clinton told the audience at the town hall. “I think there are a lot of benefits that may not be immediately perceived.”

Cinton will head to Delhi later Monday, where she is expected to press India to push ahead with its stalled economic reform program, even though the prime minister’s chief economic adviser said last month that no new reforms were likely before the next election in 2014.

Latest news

Iran: Officials Promote Starving Citizens Under a ‘Great Economic Plan’

Over the past four decades, the Iranian regime has been infamous for making false statements. As a result, citizens...

After Coronavirus, Iran’s Regime Kills People Through Starvation

Multiple protests have recently erupted in various cities across Iran, following the 100 to 400 percent increase in the...

Requirements for a Simple Life in Iran; the Unattainable Dream

It is no exaggeration to say that Iran's economy is in a major freefall. All economic indicators are suggesting...

Sale of Iran’s Historical Items; Is There Anything Left To Sell?

Some of the members of the Iranian regime’s parliament have submitted a plan on the 'optimal use of antiquities...

Iran: Bread Protests Are on Way, Stronger Than Gas Protests

Observers in Iran believe that nationwide protests and uprisings are underway following the Iranian regime’s decision to increase the...

Iran: Tax Pressure on the People and Exemption for the ‘Super Rich’

In a critical situation where most of the Iranian regime’s officials and media outlets are warning its leaders to...

Must read

Iraqi insurgents send action report to Iran’s military chiefs

Iran Focus: Tehran, Jan. 16 – Sources within the...

UN nuclear watchdog debates sanctions as row with Iran deepens

Daily Telegraph: The diplomatic storm surrounding Iran's nuclear programme...

You might also likeRELATED
Recommended to you