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‘Sanctions shouldn’t hurt trade with Iran’

As visiting Iranian Foreign Minister Ali Akbar Salehi said his country was a “reliable” partner to India for oil supply,External Affairs Minister S M Krishna said unilateral sanctions should not impact “legitimate trade interests”

Written by Shubhajit Roy | New Delhi | Published: June 1, 2012 3:34:30 am

As visiting Iranian Foreign Minister Ali Akbar Salehi Thursday said his country was a “reliable” partner to India for oil supply,External Affairs Minister S M Krishna said unilateral sanctions should not impact “legitimate trade interests”.

The two sides also discussed the idea of the international north-south corridor connecting India,Iran,Azerbeijan and Russia,which was described as a “positive” development.

After the talks,Krishna,replying to a question on US pressure on implementing sanctions against Iran,said,“UN Security Council has passed resolutions on the issue and India has always abided by such resolutions… As far as sanctions decided unilaterally or regionally… in a globalised world,such actions tend to impact the market,and our commercial entities take these into account. Such measures should not impact legitimate trade interests.”

Salehi will meet PM Manmohan Singh on Friday to invite him for the NAM summit in Tehran in August. He pitched Iran as a reliable energy partner for India. “Trade with India is $16 billion,but it’s not proportionate to the potential… I would like to stress that Iran is a reliable partner… India is an emerging economic power and its energy demand is ever increasing… they should look for resources that are reliable,” he said.

Krishna said: “We are dependent on imports to meet the bulk of our requirement. Given our growing demand,it is natural to try and diversify our sources of imports of oil and gas… Iran is a key country for our energy needs and it remains an important source of oil for us.”

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