India, Iran likely to hold talks on resuming oil exports

MEHR: India and Iran may soon begin exploratory talks on the resumption of bilateral trade in items such as crude oil and fertilisers, Indian media have reported.

India and Iran may soon begin exploratory talks on the resumption of bilateral trade in items such as crude oil and fertilisers that have faced US sanctions since 2019 as Iran and the US are trying to expedite talks on reviving the Iranian nuclear deal of 2015, a source has said, according to the Hindu Business Line website.

A high-level team from Iran is scheduled to visit New Delhi for talks with Indian officials.

A source told the Indian website that “There is a hope that Iran sanctions will be lifted as progress has been reported in talks between the US and Iran in Vienna on reviving the nuclear agreement. So, we have to position ourselves for that. An Iranian team of senior officials will visit India soon to discuss how to go about resuming trade in items such as oil and fertilisers.”

Iran has been holding negotiations with the Western powers and Russia and China in Vienna known as the Vienna talks to revive the JCPOA and make Washington remove the illegitimate sanctions that the previous US administration Donald Trump imposed after its unilateral withdrawal from the nuclear deal.

The Vienna talks have been paused for the time being at the suggestion of the EU foreign policy chief, and the negotiators have returned to their respective capitals for political consultations.

Almost all countries participating in the talks want the talks to be concluded more quickly, but reaching a final agreement awaits US political decisions on a few remaining key issues which are related to the removal of the sanctions on Iran.

Iran says that Washington has not shown any resolve to remove the sanctions on Tehran in practice to revive the JCPOA and return to full abidance by the JCPOA.