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India stands to gain from historic Iran deal

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Washington: India, which has drastically reduced its oil imports from Iran under US pressure, stands to gain from the historic accord reached between Tehran and six world powers to limit its nuclear program in return for lifting sanctions.

But before India, which imports 70 percent of its oil supply, turns back on the taps of Iranian oil, President Barack Obama has to sell the deal to a hostile Republican Congress that has 60 days to review it.

Obama has vowed to veto any legislation that may scuttle what he described as “a comprehensive, long-term deal that will verifiably prevent Iran from obtaining a nuclear weapon”.

Asserting that “it would be irresponsible to walk away from this deal”, Obama said he would “welcome a robust debate in Congress on the details of this deal” even as he warned that “I will veto any legislation that prevents the successful implementation of this deal.”

“Because of this deal, Iran will not be able to produce highly enriched uranium or weapons-grade plutonium, the raw materials necessary to build a bomb,” Obama said in an open letter to the American public explaining “what this deal means and how it works”.

Under this deal, Iran will reduce its stockpile of enriched uranium by 98 percent, remove two-thirds of its installed centrifuges — the machines necessary to produce highly enriched uranium – and store them under constant international supervision, he said.

“Under this deal, Iran will modify its nuclear reactor in Arak so it cannot produce weapons-grade plutonium — and all spent fuel from the reactor will be shipped out of the country indefinitely,” Obama said.

Asserting that “This deal is not built on trust – it’s built on verification”, he said international nuclear inspectors will have access to Iran’s nuclear program – “where necessary, when necessary”.

iran-nuclear-deal-AP
Image Source: www.newindianexpress.com

“As Iran implements this deal, it will receive gradual relief from sanctions. If it violates any aspect of this deal, sanctions that have crippled Iran’s economy will snap back into place,” he said.

According to the White House, the sanctions would begin lifting once the UN Security Council endorses the Joint Comprehensive Plan of Action (JCPOA) as the agreement is called, “simultaneously with the IAEA-verified implementation of agreed nuclear-related measures by Iran”.

So it’s still some more time before Iranian oil starts flowing freely again to India, which has reduced its oil imports from Tehran to 10-11 million tonnes in 2014-15 from 21.20 million tonnes in 2009-10. (IANS)

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Iran President Gearing Up For His India Visit To Discuss Trade And Policies

The visit will be used to discuss trade and policies between the two countries

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Iranian President Hassan Rouhani will discuss trade policies and other issues during this visit of his. http://www.telegraph.co.uk
Iranian President Hassan Rouhani will discuss trade policies and other issues during this visit of his. http://www.telegraph.co.uk
  • Iran president Hassan Rouhanito come on a three-day visit to India
  • The visit will be used to discuss trade and policies between the two countries
  • Business traders of both the countries will do a meeting soon too

Iran President Hassan Rouhani will come on a three-day visit to India starting Thursday at the invitation of Prime Minister Narendra Modi, the External Affairs Ministry announced on Wednesday.

Modi and Rouhani will hold a bilateral meeting here on Saturday, during the course of which both sides would review the progress achieved in bilateral relations and also exchange views on regional and international issues of mutual interest, according to a ministry statement.

Iranian President Hassan Rouhani to visit India soon. Photo Credit: observer.com
Iranian President Hassan Rouhani to visit India soon. Photo Credit: observer.com

Rouhani will also call on President Ram Nath Kovind on Saturday.

According to Iranian news agency Irna, Rouhani will first arrive in Hyderabad on Thursday where he will meet the city’s Muslim Ulemas. He will also meet Iranian nationals, including students, residing in India.

Citing the Iran President’s deputy chief of staff for communications and information Parviz Esmaeili, Irna said following the delegation-level talks on Saturday, both sides will sign a number of agreements.

Also Read: Iran Accuses CIA for spreading ‘Fake News’ about Tehran’s support to Al Qaeda

Business leaders of both sectors are also scheduled to hold a joint meeting to review cooperation opportunities and capacities, according to Esmaeili.

This will be Rouhani’s first visit to India after he assumed office in 2013.

It comes after Modi’s visit to Tehran in 2016 during which a trilateral agreement on transit and transport was signed between India, Iran and Afghanistan.

The first phase of the port was inaugurated by President Rouhani in December last year, a little over a month after the first consignment of wheat from India to Afghanistan was sent via this facility.

Iranian President Hassan Rouhani has already talked to the Indian
Iranian President Hassan Rouhani has already talked to the Indian
President Ram Nath Kovind. Wikimedia Commons

The port opens a new strategic transit route between Iran, India, Afghanistan and other Central Asian nations bypassing Pakistan.

India-Iran bilateral trade stood at $12.89 billion in 2016-17, according to figures provided by the External Affairs Ministry. IANS