India insists Iran will remain important oil source

New Delhi, India (AHN) – A day after United States Secretary of State Hillary Clinton lauded India for reducing its trade with Iran over its defiance on its nuclear program, India on Tuesday insisted that the Islamic republic will remain an important source of oil.

India said it depends on Iran to meet 12 percent of its domestic energy demand.

“We have a strong interest in a peaceful and negotiated settlement of issues relating to Iran’s nuclear program,” Indian Foreign Minister SM Krishna told a joint news conference with Clinton.

Krishna said that India still considers Iran an important source of oil, adding, “Ultimately, it reflects the decision that refineries make based on commercial, financial and technical considerations.”

“This issue is not a source of discord between our two countries,” the minister said.

The West has called on Iran to give up its nuclear program, which is believed to be aimed at creating a nuclear weapon.

India, in the beginning, was hesitant to share the U.S. goal, but later agreed to join the effort to block Tehran’s oil revenues.

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