India to raise oil imports from Iran after removal of sanctions

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An economic Iranian official said here Monday that India is to increase its oil imports from Iran as soon as the anti-Iran sanctions are lifted.

India is ready to import Iran’s oil as much as it was in the pre-sanctions era, Marziye Riahi, head of Iran’s energy working group delegation to New Delhi told IRNA.

Before the sanctions imposed on Iran, Tehran was providing 16 percent of New Delhi’s oil needs, said she, adding the figure reached 6 percent due to obstacles created by bans on Iran.

The Indians have asked National Iranian Oil Company to concede development of Iran’s Farzad B gas field to them in the post-sanctions era, she said.

On December 15, the International Atomic Energy Agency (IAEA) Board of Governors adopted a landmark resolution on Iran possible military dimensions (PMD) case.

On that day, the IAEA Board of Governors voted in favor of a draft resolution proposed by the six world powers to declare end to investigations into Iran’s nuclear activities in the past.

So, it is predicted that time of lifting anti-Iran sanctions will be in the next few days as it was agreed after the July 14 nuclear agreement between Iran and P5+1- the US, Britain, France, Russia and China plus Germany.

According to the agreement, better known as the Joint Comprehensive Plan of Action (JCPOA), limits will be put on Iran’s nuclear activities in exchange for, among other things, the removal of all nuclear-related economic and financial sanctions against the country.

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