India backs UN resolutions on Iran nuclear issue

[Vishwarupa]

India backs UN resolutions on Iran nuclear issue - The Economic Times



India has come out in support of full implementation of UN Security Council resolutions on the Iranian nuclear issue but said all efforts should be made to ensure that legitimate trade and economic activities do not suffer.

"India has consistently supported the right of all nations to peaceful uses of nuclear energy in accordance with relevant international treaties to which they are a party," India's Permanent Representative to the UN Hardeep Singh Puri told the Security Council Wednesday.

India, he said, also supported a proposal to hold an open briefing along with the Coordinator of the Panel of Experts in April 2012 on implementation procedures to get views of the wider UN membership.

Asking Iran to "fully cooperate with the International Atomic Energy Agency (IAEA) to restore the confidence in the exclusively peaceful nature of its nuclear programme," Puri said India welcomed the recent exchanges between Iran and the IAEA.

"We hope that the outstanding technical issues concerning the Iranian nuclear programme will be resolved peacefully through Iran's cooperation with the IAEA," he said.

Welcoming the decision to resume talks between the P5 + 1 and Iran, Puri said: "These talks should serve as an important confidence building measure and help avoid escalation of the situation."

 

[nitesh]

Smart diplomacy lol

 

[pmaitra]

India has come out in support of full implementation of UN Security Council resolutions on the Iranian nuclear issue but said all efforts should be made to ensure that legitimate trade and economic activities do not suffer.

Excellent.

That's called guarding your own interests.

 

[Ray]

US warns India, China over Iran oil import

The US has asked India and China to significantly reduce by June 28 the purchase of Iranian oil to avoid sanctions, as it announced a list of nations that will be exempted from the curbs.

Secretary of State Hillary Clinton last night announced that 11 countries, mostly from Europe, would not be subject to US sanctions regarding Iran. Japan is the only Asian country among the nations exempted from the sanctions.

Later, a senior State Department official urged 12 other countries, including India, China and South Korea, to follow the example of those exempted from the curbs.

Citing the case of Japan, which has decreased its import of Iranian crude oil between 15 to 22 percent, the official told reporters that this exception applies only to countries that have significantly reduced the volume of crude purchase from Iran.

"If you look at open-source data in the last half of 2011, even after that tragedy (Fukushima nuclear disaster following a massive earthquake and tsunami in Japan)... they reduced on seasonally-adjusted terms between 15 (per cent) and 22 per cent.

"That gives some indication and again, with the European Union, they have gotten to zero. So we look forward to hearing from countries what their views are on what they can do," the official said on the condition of anonymity.

Besides Japan, the countries exempted from sanctions are Belgium, the Czech Republic, France, Germany, Greece, Italy, Japan, the Netherlands, Poland, Spain and the United Kingdom.

There are approximately 23 countries in the world that have been importers of Iranian crude oil, so that is the total limit of the number of countries that can be considered under the exception.

"If there are countries that believe that they should be considered under it, we are happy to have discussions with them. I would only underscore that these cases with Japan and the 10 European countries that they serve as a model, as a benchmark that others can look at and determine whether they are able to make commitments to deny Iran export markets for its crude oil," the official said.

The official was speaking after Clinton announced names of the countries exempted from sanctions for significantly reducing their volume of crude oil purchases from Iran.

As a result, Clinton said, she will report to the Congress that sanctions under the National Defence Authorisation Act for 2012 will not apply to the financial institutions based in these countries, for a renewable period of 180 days.

There is a provision in this legislation that calls for the US President to make a determination on whether or not price and supply conditions in the market allow for countries to switch from Iran to other suppliers of Iranian crude oil.

If the President does make that determination, that then triggers or calls into action another set of sanctions that come into effect on June 28. And those sanctions are against any transactions with the Central Bank of Iran by any financial institution, whether it's private or public, related to the purchase of petroleum or petroleum products for Iran.

"So, bringing that back to the specific point of what happens to other countries, in terms of countries that were importers of Iranian crude oil, there are 12 others that fall into that category. For those 12 countries, they now have an example that they can look at to determine what kind of actions that they might be willing to consider domestically," the official said.

US warns India, China over Iran oil import - The Sunday Indian

 

[Vishwarupa]

I heard China has also reduced its oil import from Iran? is it true can any one confirm.

If there is sanctions on India, what are the major projects thats going to effect.