Iran's deputy foreign minister Abbas Araghchi was in India to hold foreign office consultations. His visit assumed significance in the wake of US sanctions threatening to block oil supplies to India.
In an exclusive interview to WION, he indicated that both countries were exploring ways to circumvent US sanctions by making oil payments in rupee or euros, which means a sort of trilateral cooperation between Iran, India and the European Union.
India has also agreed to allow Iran's Pasargad Bank to open its branch in Mumbai to facilitate payments for oil imports. The foreign ministers of both countries are also meeting in Tehran in November to further strengthen the mechanism and explore further possibilities. Excerpts:
You held consultations with your Indian counterparts. Was there any way out on the issue of oil payments in the wake of US sanctions?
Yes, oil was one of the main subjects of discussion. Iran and India have been partners for long. Previous US sanctions didn't stop our ties. Iran shall continue to be a supplier of oil to India.
Did you discuss any mechanisms that will come into force after the US sanctions?
Different ideas are under consideration. We will update, adjust existing mechanisms. We exchanged some creative ideas in the meetings here.
Will it affect Chabahar port project?
We are quite satisfied with the ongoing work at Chabahar. It is an example of strategic cooperation. It has importance for Afghanistan and Central Asia. Iran attaches great importance to the port project.
