US decision to end Iran oil waivers hurt India's bottom line: Envoy

TEHRAN, Aug. 07 (MNA) – India's Ambassador to US said the decision of the United States to stop issuing waivers for the purchase of Iranian oil has hurt India's bottom line.

The decision of the United States to stop issuing waivers for the purchase of Iranian oil has hurt India's bottom line and New Delhi hopes that Washington will show similar flexibility in issues it considers important, India's Ambassador to the US Harsh Vardhan Shringla said on Tuesday.

"It was an important priority for the US and we went along with it. But we also expect the United States to show similar sensibility when it comes to our priorities," Mr Shringla told Sputnik on the sidelines of an event hosted by The Heritage Foundation in Washington, New Delhi-based NDTV reported.

"It has been a challenge to find alternative sources of oil at the same price and quality, and it has affected the bottom line in India," he said.

Mr Shringla remarked that India's decision to oblige with US sanctions is based on the importance of the US-India relationship. "Both sides need to recognize that," he said.

Following the US’ unilateral withdrawal from the Iran nuclear deal last year, US President Donald Trump's administration went ahead with re-imposing sanction on Iran, targeting the country’s energy and banking sectors, and stepping up efforts to drive Iran’s oil revenues to zero.

In April, the White House announced its decision not to renew waivers that allow eight countries, including China, Greece, India, Italy, Japan, South Korea, Taiwan and Turkey, to buy Iranian oil without facing US sanctions.

Meanwhile, Iran says with or without waivers, the country’s oil exports will not fall to zero under any circumstances.

MNA/PR

News Code 148584

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