Publish dateSaturday 24 March 2012 - 10:55
Story Code : 38358
Washington ban threats to adversely affect Indo-US ties
India has reportedly warned the US over Washington’s recent threats of imposing sanctions against New Delhi unless it significantly reduces imports of Iranian oil by June 28.
“This tone and tenor is unacceptable. Any move by the US to impose sanctions against any Indian financial institution or bank dealing with Iran will adversely impact Indo-US bilateral ties,” India Today quoted an unnamed senior Indian government official as saying on Friday Press TV reported.

On Tuesday, the US announced that it would exempt 10 European countries and Japan from penalties for doing business with Iran's central bank, saying these countries have reduced their oil purchase from Tehran.

Later, the US state department asked 12 countries, including India, China and Russia, to follow suit, asserting that a decision on imposing financial sanctions on them would depend on their progress in cutting oil purchases from Tehran.

The Indian official described the veiled US threats against New Delhi as unfortunate, saying, “This will alter the public perception in India towards the US.”

India, the world's fourth-largest petroleum consumer, is Iran's second largest oil customer after China and purchases around USD 12 billion worth of Iranian crude every year, about 12 percent of its consumption.

In a Bloomberg report published on Thursday, a US official overtly threatened New Delhi that Washington will impose sanctions against India if the South Asian country fails to reduce its purchase of crude oil from the Islamic Republic.

“If India fails to cut Iranian imports sufficiently, [US President Barack] Obama may be compelled to bar access to the US banking system for any Indian bank processing oil payments through Iran’s central bank,” the official, speaking on condition of anonymity, said.

Last week, Iran and India signed an agreement intended to circumvent the US financial sanctions on Tehran, according to which New Delhi will pay for 45 percent of its crude imports from the Islamic Republic in rupees.

Later, India dropped taxes on the rupee payments for Iranian oil imports to help refiners settle their trade with Tehran in case the current transaction mechanism through Turkey folds under sanctions.

The US, Israel and some of their allies have accused Tehran of pursuing military objectives in its nuclear energy program. Washington and the EU have even used this pretext to impose sanctions against Iran.

On New Year’s Eve, the US imposed new harsher sanctions against Iran aimed at preventing other countries from importing Iranian oil and conducting transactions with its central bank.

European Union (EU) foreign ministers also approved sanctions against Iran’s oil and financial sectors on January 23, including a ban on Iranian oil imports, a freeze on the assets of the country’s central bank within EU states, and a ban on selling grains, diamonds, gold, and other precious metals to Tehran.

Iran has repeatedly refuted the Western allegations regarding its nuclear energy program, arguing that as a signatory to the nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it is entitled to develop and acquire nuclear technology for peaceful purposes.

Source : Afghan Voice Agency (AVA), Kabul
https://avapress.com/vdcivpap.t1avw2lict.html
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