30-Jan-2012

India Will Continue Gas Ties With Iran


Nice to see that we've finally grown up.  

India intends to keep importing oil from Iran and it appears that Indians, and even Chinese, will explore paying Tehran ''with gold, the Japanese yen or even in part with their own national currencies'', said a Pakistani daily.
An editorial in the News International Monday said that the US wants Pakistan to drop the Iran-Pakistan gas pipeline project altogether. 
"It has stepped up efforts to lobby Pakistan to abandon not only the IP gas pipeline project but also liquefied natural gas purchases from its western neighbour in return for cheaper gas from the US," the editorial added.
India, which imports 12 per cent of its oil from Iran, will not scale down its petroleum imports from Tehran despite US and European sanctions against the Islamic republic, Finance Minister Pranab Mukherjee has said.
"It is not possible for India to take any decision to reduce the imports from Iran drastically, because among the countries which can provide the requirement of the emerging economies, Iran is an important country amongst them," Mukherjee told reporters here.
Speaking at the end of a two-day visit aimed at wooing US investment, Mukherjee yesterday said: "Some other countries, Saudi Arabia, Nigeria, the other Gulf countries they also contribute but Iran contributes substantially."
"We (India) imports 110 million tonnes of crude per year. We will not decrease imports from Iran. Iran is an important country for India despite US and European sanctions on Iran," the finance minister said.

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