Modi govt reduced oil import from Iran under US pressure, says Congress

Questioning the reduction in import of crude oil from Iran, the Congress on Thursday sought to know if the decision was taken by PM Modi under US pressure and how does he plan to safeguard consumers' interests that will show in increasing oil receipts.

"The reduction in import of oil from Iran from 7,70,000 barrels per day to 5,70,000 barrels in the month of June shows that PM Modi is a paper tiger who has crumbled and given in to the pressure of USA," said Congress spokesperson Jaiveer Shergill.

Comparing the government's response with UPA's tenure, Shergill said the reduction in oil import from Iran exhibits that PM Modi's foreign policy is confusing and circular and has once again prioritized United States' interests over India's national interests.

"This is not the first time that India had to balance the power struggle between Iran and USA. In 2012, the UPA Government under Dr. Manmohan Singh balanced the interest between Iran and USA, protected the consumer interest and stood up against USA, whereas, Prime Minister Modi buckled under the pressure of USA, ultimately hurting the Indian consumer," said Shergill.

Iran is the third largest supplier of oil to India accounting for 15% of its oil requirements. Despite US sanctions, India so far has remained the second largest client of Iran after China. But the sudden reduction in import suggests alteration in the foreign policy.

The reduction oil import from Iran will directly squeeze the pockets of the common man, reduce the supply, increase the fuel prices and bloat the current account deficit, claimed Shergill.

Why Iran Matters

Iran is the third largest supplier of oil to India accounting for 15% of its oil requirements.

Despite US sanctions, India so far remained the second largest client of Iran, only after China.