India will decide on purchasing oil from Iran after Lok Sabha polls: Sushma Swaraj

New Delhi: India's external affairs minister Sushma Swaraj told her Iranian counterpart Javad Zarif on Tuesday that India will decide on its oil imports from the middle east nation after the Lok Sabha elections end this month, in line with its economic interests, a government source said. Iran's Foreign Minister Javad Zarif held talks on the issue with Sushma Swaraj during a visit to New Delhi. India has suspended imports of Iranian oil from May because of renewed US sanctions on Iran. Zarif arrived in India, on Monday amid rising tensions in the Persian Gulf following the US withdrawal from the 2015 Iran nuclear deal and re-imposing sanctions on Tehran aimed at bringing it back to the negotiating table on its nuclear programme. "On purchase of oil from Iran, EAM (External Affairs Minister) reiterated the position that a decision will be taken after the elections keeping in mind our commercial considerations, energy security and economic interests," a government source said. The JCPOA is the formal name for the Iran nuclear deal concluded between Iran and the P5+1 —China, France, Germany, Russia, the UK and the US in 2015. It ended years of sanctions against Iran’s nuclear programme. Last year, however, US President Donald Trump pulled his country out of the deal and announced strict measures against any country or entity doing business with Iran from 4 November. To reduce Iran’s crude oil exports—the mainstay of the Iranian economy —to zero, Washington ended on 2 May waivers that had allowed the top buyers of Iranian oil—including India —to continue their imports for six months.