The latest flashpoint in West Asia has derailed India's preliminary plans to resume crude oil imports from Iran, officials said. In January, officials of the Ministry of Petroleum and Natural Gas had told Business Standard that the government had been studying proposals for the same, given that India was trying to expand sources of imports. "We are always monitoring the situation when it comes to crude flows.
India and Iran on Monday signed a 10-year contract for the operation of a terminal at the strategically important Chabahar port in Iran, a move that will boost regional connectivity as well as trade ties. This is the first time India will take over the management of an overseas port that will also have a multiplier effect on trade among India, Iran and Afghanistan as efforts continue to directly tap the potential in Central Asia, bypassing neighbouring Pakistan.
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The development comes amidst officials of the foreign ministries from the two sides exchanged goodwill messages.
Jailed Iranian activist Narges Mohammadi has been awarded the 2023 Nobel Peace Prize for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all.
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Mentioning the recent attacks on US forces in Syria and Iraq, he added, "The US sent messages to the Axis of Resistance but received a clear response on the battlefield."
The foreign ministry's statement came amidst the reported visit of Foreign Minister Sun Weidong to Pakistan on a mediation mission.
At the same time, external affairs ministry spokesperson Randhir Jaiswal said it is a matter between Iran and Pakistan.
Under the deal, to be ratified by the US Congress, Washington will lift sanctions on dual-use technology trade with India for which New Delhi will have to separate its civilian and military nuclear establishments.
After they landed at Tehran airport a few days ago, a Pakistani agent took them to a hotel and held them hostage for ransom, officials said.
The government's clarification came following reports that Iran has conveyed that the $21-billion deal to supply LNG was off following India voting in favour of the IAEA resolution.
Iranian President Ebrahim Raisi during a call with Prime Minister Narendra Modi on Monday, urged India to use 'all its capacities' to end the Israeli actions in Gaza amid the ongoing conflict.
Israel launched missile strikes against Tehran during early hours on Friday (local time), ABC News reported citing a senior United States official.
Herzog further claimed that Iran is supporting the "terror machine" by providing billions of dollars aiming to undermine the regional situation.
Pakistan's ministry of foreign affairs said that the violation of Pakistan's sovereignty is "completely unacceptable" and warned of serious consequences.
Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
India, Pakistan and Iran will for the first time hold a joint official-level meeting in Tehran from March 13-15 on the proposed over $7 billion tri-nation gas pipeline
India's exports to Iran have been falling over the last one year, amid decline in rupee reserves of the West Asian economy. Going ahead, the possibility of augmenting exports to Iran may not be easy for India, considering the geopolitical tensions - Russia-Ukraine and Israel-Hamas conflicts - and the West Asian country's support for Russia and Hamas, people aware of the matter said. Exports to Iran saw a downward spiral since November last year.
The United States, Canada and the United Nations have condemned the Iranian air attack on Israel, with President Joe Biden reaffirming America's 'ironclad commitment' to the Jewish nation and vowing to convene a meeting of the G-7 leaders on Sunday to develop a coordinated response to the brazen assault.
China Thursday offered to play a 'constructive role' to ease tension between Pakistan and Iran following their missile strikes against each other over the last two days and asked the two countries to 'exercise restraint and calmness and avoid escalation'.
Iranian Foreign Minister Hossein Amirabdollahian met Hamas leader Ismail Haniyeh on Saturday night in Qatar and agreed to cooperate for 'fully achieving' the goals of Hamas and the Palestinian people the Jerusalem Post reported.
As China's Foreign Minister Sun Weidong visited Pakistan on a mediation mission, a statement from Foreign Ministry on Monday said it is maintaining close contacts with Pakistan and Iran to 'bridge their differences'.
When the Nobel Prizes were presented at Oslo's City Hall, Norway, on Sunday, December 10, 2023, Narges Mohammadi, who was awarded the Nobel Peace Prize this year, was absent.
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Al-Ittihad's Asian Champions League match with Iran's Sepahan was called off on Monday after the Saudi team refused to leave their dressing-room due to a statue of an assassinated Iranian general being placed at the entrance to the pitch.
In the wake of the surge in respiratory diseases and new JN.1 sub-variant of COVID-19, the World Health Organisation (WHO) said that the virus is evolving and changing and urged the member states to continue with strong surveillance and sequence sharing.
The unexpected missile attack on a second India-bound ship carrying Russian crude, just three weeks after the first, has complicated matters for domestic refiners. India now counts the Vladimir Putin-led nation as its biggest oil supplier, according to Paris-based market intelligence agency Kpler, and these attacks come on top of US sanctions since December, where vessels that bring crude to India are facing heightened scrutiny. Panama-registered Pollux, which loaded crude at the Sheshkaris oil terminal in the Russian port of Novorossiysk on January 24, was scheduled to deliver the medium, sour Urals grade to Paradip port on February 28.
The department of commerce has urged the agriculture ministry as well as the diplomatic mission in Tehran to apprise it of details as to why Iranian buyers have stopped import of rice and tea from India, a senior government official said. Exporters said that exports of items such as high quality tea and rice have stopped since last week. As of now, there has been no confirmation from the authorities and the response from the embassy in Tehran is also taking time, they said.
In Group C, Iran's Sepahan survived a pair of red cards to defeat Air Force Club from Iraq 1-0 in Tehran and stay two points adrift of leaders Al-Ittihad from Saudi Arabia.
The official said digital devices seized from the house during the search are being examined and further investigations are in progress.
Most of India's oil supplies are expected to stay safe because of the country's good relations with both Russia and Iran. That would take care of over a third of India's supplies.
The United States military forces on Thursday (US local time) conducted self-defence strikes on two facilities in eastern Syria used by Iran's Islamic Revolutionary Guard Corps (IRGC) and affiliated groups.
India's pharmaceutical exports to Iran have been hit owing to depleting rupee reserves in the West Asian country because of India stopping the import of crude oil from it in 2019 following US sanctions. Pharmaceutical exports dropped 71.25 per cent in April-August this year over the same period last year. The data from the Pharmaceutical Exports Promotion Council (Pharmexcil) showed exports to Iran had declined 31.29 per cent in 2022-23 as against the previous financial year.
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Upon his arrival in Beirut on Thursday, the Iranian minister said, "Some European officials asked me if there were any chances that new fronts might open up against the Zionist regime?"
Iran and Saudi Arabia have agreed to re-establish diplomatic relations and reopen embassies after talks in Beijing between officials from the two rival Middle East powers, Iranian state media reported on Friday.
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