New Delhi Says 'Adequately Prepared' To Tackle Impact Of US Ending Iran Oil Waivers

India has taken proper steps to tackle ramifications of the US decision to scrap sanctions waivers for Iranian oil imports, the country's Ministry of External Affairs spokesman said on Tuesday

NEW DELHI (UrduPoint News / Sputnik - 23rd April, 2019) India has taken proper steps to tackle ramifications of the US decision to scrap sanctions waivers for Iranian oil imports, the country's Ministry of External Affairs spokesman said on Tuesday.

The White House announced on Monday that, starting from May 2, the United States would end its six-month sanctions waivers for purchases of Iranian oil, which it granted to India, Greece, Italy, Taiwan, China, Japan, Turkey and South Korea in November. Washington wants all importers to eventually cut their oil sales from Iran to zero as part of maximum sanctions pressure on the Islamic republic, triggered by the US decision to unilaterally leave the 2015 Iran nuclear deal.

"Government has noted the announcement by the US Government to discontinue the Significant Reduction Exemption to all purchasers of crude oil from Iran. We are adequately prepared to deal with the impact of this decision. Ministry of Petroleum and Natural Gas has already issued a statement in this regard," Raveesh Kumar said.

Kumar stressed that New Delhi would "continue to work with partner nations, including with the US, to find all possible ways to protect India's energy and economic security interests."