India will lose ‘special privileges’ if it buys crude oil from Saudi Arabia

Massoud Rezvanian Rahaghi

An oil facility in the Khark Island, at the coast of the Persian Gulf in Iran

 

Massoud Rezvanian Rahaghi also argues on India’s investment promises in the port of Chabahar have not been delivered.
Iran will stop “special privileges” for India if New Delhi tried to replace Iranian crude with supplies from Saudi Arabia, Russia, and the U.S. said a senior Iranian diplomat in New Delhi on July 10 2018.

Speaking at an event arranged by the All India Minorities Front at the Parliament annexe, Massoud Rezvanian Rahaghi said that Iran had tried to help India whenever possible on strategic problems like energy and connectivity, but argued that India’s investment commitments in the port of Chabahar have not been delivered.

“In the preceding round of U.S. sanctions between 2012 to 2015, Iran did its best to assure the security of oil supply to India. …However, if India were to replace Iran with countries like Saudi Arabia, Russia, Iraq, U.S. and others for the 10% of its oil demand then it may have to revert to dollar-denominated imports which indicate higher CAD and deprivation of all other rights Iran has offered to India,” Mr Rahaghi said.

The Iranian reply comes days after India was asked by the Donald Trump administration to drastically cut down crude supply from Iran. India has not spelt out how it would address the concerns of the U.S. administration. The Ministry of External Affairs has maintained that Delhi would discuss “all stakeholders” in ensuring energy security.

The Iranian official said that Iran remained an open market for Indian necessities like petroleum, urea and LNG and Iran understood India’s energy wants.

(India will lose ‘special privileges’ if it buys crude oil from Saudi Arabia)

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India will lose ‘special privileges’ if it buys crude oil from Saudi Arabia

U.S. withdrawal from the nuclear deal from Iran

U.S. withdrawal from the nuclear deal from Iran

Mr Rahaghi also spoke about the impact of U.S. withdrawal from the Iran nuclear deal, also known as Joint Comprehensive Plan of Action (JCPOA), and discussed that unilateralism by the U.S. was imposing a heavy cost on the world. He cautioned that a conflict in the Gulf area would “drive up” the price of crude oil and made an impact on growing powers like India and China.

Mr Rahaghi said that Iran came as a “grace” to India in New Delhi’s quest to access the markets of the emerging economies in the Central Asian region but hinted that Tehran is not satisfied with India’s investment levels in the Chabahar port.

“…It’s unfortunate that Indian investment promises for development of Chabahar port and its connectivity projects have not been accomplished so far, and it is assumed that India takes immediately necessary measures in this regard if its participation and engagement in Chabahar port is really of strategic nature,” said the Iranian diplomat.

Iran had the right to act in response to U.S. measures. “Iran and Syria are winning against terrorism and some of these forces are now coming to Afghanistan,” he said while asking regional powers to remain careful of spillover effects from the wars in the West Asian region.

(India will lose ‘special privileges’ if it buys crude oil from Saudi Arabia)

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