December

Iran: holding the key to stability?

The prospects of a breakthrough in relations between Iran and the Western world led by the United States has far-reaching implications for Indian foreign policy, especially in its oil-rich western neighbourhood. Iran has long been a reliable supplier of crude oil and a major market for refined Petroleum Products from India. Moreover, Indian companies had concluded long-term contracts for exploration of natural gas in Iran. While there were mixed views on obtaining natural gas by a pipeline from Iran through Pakistan, India has also been examining the feasibility of an undersea Iran-India oil pipeline. Tightening financial and banking sanctions against Iran by the US and its NATO partners have severely constricted the possibilities and expanding energy cooperation with Iran. While India has joined others who have insisted that Iran should abide by its commitments under the Nuclear Non-proliferation Treaty, it has also held that Iran has the right to enrich uranium to be used for peaceful purposes.

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Newsletter 31 December 2013