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Jakarta Post

Iranian sanctions predicament

  • Sergei Desilva-Ranasinghe

Jakarta   /   Mon, February 13 2012   /  08:00 am

The implementation of the tough new US and EU sanctions against Iran has encountered practical challenges, with India, an important Western strategic partner, voicing its concerns. Given that India is a major recipient of Iranian oil, a major investor in Iran’s energy sector and has other vitally important strategic interests at stake in Afghanistan and Central Asia, its quandary encapsulates the difficulties involved in the full implementation of sanctions.

In a press conference on Jan. 29, India’s Finance Minister, Pranab Mukherjee, clarified India’s position on sanctions targeting the sale of Iranian oil: “It is not possible for India to take any decision to reduce the import from Iran drastically [emphasis added by author] because, after all, the countries which can provide the requirement of the emerging economy, Iran is an important country amongst them.” From thi...