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Clinton visit: India to juggle ties with US,
Iran
Saturday May 05, 2012 09:32:40 PM,
IANS
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New Delhi: India will be juggling its ties with Iran
and the US as it gears up to hold talks with Secretary of State
Hillary Clinton Tuesday even as an Iranian trade delegation will
be here to find ways to do business with Indian companies.
The Iranian nuclear issue and sanctions imposed by the US and the
EU to squeeze the Tehran regime suspected of developing nuclear
weapons will be a key regional issue on the table when Clinton
holds talks with her Indian counterpart S.M. Krishna Tuesday.
Clinton begins her three-day visit to India Sunday from Kolkata
where she is expected to meet West Bengal Chief Minister Mamata
Banerjee.
The Indian side is expected to brief Clinton about steps taken by
New Delhi to persuade Indian companies to cut down Iranian oil
imports. Iran accounts for around 10 percent of India's oil
imports. In the past few months, there has been a steady cut down
in Indian oil imports from Iran.
India has denied that it is reducing oil imports under pressure
from the US, and has tended to put a brave face on it saying it
was only seeking to diversify its supply of oil.
India has made it clear to the US that it abides by the UN
sanctions and not unilateral sanctions by individual countries or
groupings and will continue to buy Iranian oil for its energy
security.
In March, the US granted exemptions to Japan and 10 European Union
nations from its sanctions, which are aimed at pressuring Tehran
to end its nuclear programme.
Clinton's visit to India coincides with a visit by a a 56-member
strong Iranian trade delegation to India.
The Iranian exporters, who are targeted by the Western sanctions,
will be looking for fresh opportunities in the Indian market.
A large Indian trade delegation had visited Iran in March to forge
business links and to explore opportunities for additional trade
and investment.
In February, India found a way to skirt sanctions by sealing a
payment mechanism under which Indian companies will pay for 45
percent of their crude oil imports from Iran in rupees.
In recent years, India has taken care to insulate its
multi-faceted ties with Iran from the West's prickly standoff with
Tehran over its nuclear programme. The West accuses Iran of
developing nuclear weapons.
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