Date :Wednesday, January 9th, 2019 | Time : 06:50 |ID: 83026 | Print

Zarif: EU’s delay in implementing the system meant Iran would look elsewhere

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SHAFAQNA- Zarif told in New Delhi that the EU’s delay in implementing the system meant Iran would look elsewhere. Instead of waiting for the European Union to develop financial mechanisms bypassing US sanctions, Iran will focus on cooperation with its traditional partners such as China, India and Russia.

“We are in touch with Europe but we are not waiting for Europe. The Europeans have been trying but unfortunately, they have not been able to move forward as we have expected them. We are not waiting for them, we are working with our traditional partners like India, China and Russia so that we are working in the interests of our people”, Zarif said, as quoted by the IRNA news agency.

The statement comes after the Iranian Foreign Ministry criticized last week the European Union for delaying the establishment of a so-called Special Purpose Vehicle (SPV) which aims to facilitate non-dollar trade with Iran and bypass unilateral US sanctions.

India, which imports around 80 per cent of its oil needs, recently signed a deal with Iran to buy crude in rupees rather than US dollars, helping it get around the sanctions, businesstimes reported.

Zarif told that Iran was “very happy” that the Indian government was allowing the Iranian Bank Pasargad to open a branch in India’s financial capital of Mumbai.

India also recently took over the running of part of Iran’s Chabahar Port, in the Gulf of Oman, as the countries build closer ties.

The project was recently exempted from US sanctions due to Indian investments there and its strategic importance to Afghanistan, which is landlocked. The exemption also includes development of Chabahar Port, along with a railroad project and Iranian petroleum shipments to Afghanistan, financialtribune mentioned.

Iranian Foreign Minister Mohammad Javad Zarif hailed the good relations between Iran and India in economic field and welcomed holding discussions with India over economic issues.

“We hope, despite US sanctions, Iran and India will have more cooperation in line with the interests of the people and the two countries,” said Zarif in India.

Iran hopes India will strive to get another waiver from U.S. sanctions as New Delhi plans to continue buying oil from Tehran, Iran’s deputy foreign minister for economic diplomacy Gholamreza Ansari said on Tuesday.  In the previous round of sanctions India did not halt oil imports from Iran, said Ansari, who is in India as part of a business delegation participating in a visit by Iran’s foreign minister Javad Zarif, nytimes told.

No economic power can tell us you cannot

According to Indian media ‘Hindu Business Line’, Zarif made the remarks Tuesday while addressing Iran-India Business Forum which was held in New Delhi.

“No economic power can tell us you cannot have relationship with India. This can give you confidence on the partner you are choosing,” Zarif was quoted as saying.

He added that Iran is the most reliable energy provider for India and will not allow any consideration to impede the relations between the two countries.

The challenge facing bilateral relations came from one single country, and more specifically one individual, with all countries being asked to violate a UN Security Council resolution of continuing trade ties with Iran, Zarif said referring to the US administration and the country.

Iranian Foreign Minister Mohammad-Javad Zarif met with former Italian Prime Minister Paolo Gentiloni in New Delhi.

Heading a high-ranking delegation, Zarif is in India to participate in Raisina Dialogue.

The Raisina Dialogue is a multilateral conference held in New Delhi annually. Since its inception in 2016, the conference has emerged as India’s flagship conference on geopolitics and geo-economics.

Iranian Foreign Minister is also supposed to deliver speech in a business forum which is underway with the attendance of Iranian and Indian economic activists.

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