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India to continue buying Iranian oil: Iran's FM Zarif

Mohammad Javad Zarif
Iran’s Foreign Affairs Minister Mohammad Javad Zarif

As the United States is withdrawing from an international agreement with Iran, India is still buying Iranian oil and continuing the two nations’ economic cooperation, Iran’s Foreign Affairs Minister Mohammad Javad Zarif said in late Thursday press remarks.

Zarif met with his Indian counterpart, Sushma Swaraj, in New York, on the sidelines of the UN General Assembly, as talks between the two officials affirmed India’s commitment to importing oil from Iran.

Moreover, Zarif said Iran seeks to expand its bilateral relations with India.

In addition to India, the EU external affairs chief, said the special purpose vehicle (SPV) “will help persuade an increasingly reluctant Iran to stay inside the deal in the hope of rescuing its economy.”

Mogherini added the SPV was designed to facilitate payments related to Iran’s exports including oil and imports under EU law.

As he spoke at the 73rd session of the UN General Assembly (UNGA 73) Iran’s president, Hassan Rouhani, stressed Tehran’s continued commitment to the Iran Nuclear Deal, reached in Vienna in July 2015.

Rouhani also accused the U.S. of pressurizing other countries into violating the nuclear agreement.

According to Reuters, traders said oil markets were tightening ahead of Washington's planned sanctions on Iran's petroleum industry from Nov. 4.

Britain, France and Germany, in addition to Russia and China, had all pleaded for U.S. President Donald Trump to adhere to the 2015 Iran nuclear deal framework.