India won't reduce oil imports from Iran: Mukherjee
Monday January 30, 2012 07:43:23 PM,
IANS
|
Chicago: India cannot
do without Iranian oil and will not be cutting imports from that
country despite the new US and European sanctions to punish Tehran
for its alleged nuclear activities, Finance Minister Pranab
Mukherjee has said.
"Iran contributes substantially and it is not possible for India
to make any decision to reduce the import from Iran drastically,"
Mukherjee said Sunday while talking to mediapersons at the end of
a two-day visit here.
After Saudi Arabia, Iran is the second biggest supplier of oil to
India. Iran accounts for almost 12 percent of India's oil import
bills.
Mukherjee said imports of oil from Iran was crucially important
for India. "After all the countries which can provide the
requirements of the emerging economies, Iran is an important
country amongst them," he said.
The United States as well as the European Union have announced new
sanctions against Iran aimed at putting pressure on Tehran to stop
its suspect nuclear weapons programmes.
The European Union early this month took a decision to ban imports
of oil from Iran, while the US has said it would penalise any
financial institutions dealing with Iran's central bank, making it
more difficult for countries like India to pay for oil imports.
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