Wednesday, March 28, 2012

India, China to maintain ties with Iran despite US, EU sanctions

India and China on Wednesday indicated that they will continue to maintain normal relations with Iran, while citing high crude oil prices and energy security concerns.
The Chinese Commerce Minister, Mr Chen Deming, said China respects all the United Nations resolutions. However, in a veiled reference to the US sanctions on Iran, he added that Beijing is not obliged to follow the domestic rules and regulations of any particular country.
Incidentally, China, India and South Africa are dependent on Iran for their crude oil supplies. Brazil and Russia also raised concerns over the increase in crude oil prices following the sanctions being imposed on Iran by the US and European Union.

Echoing the Chinese Commerce Minister, the Commerce, Industry and Textiles Minister of India, Mr Anand Sharma, maintained that India is also not in violation of any UN resolutions. "Energy security is important. Iran is an important source of our energy supplies," Mr Sharma said.
Read more: Business Line


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