In response to the Trump administration’s decision of ending waivers to buy Iranian oil, on Tuesday India said that it is “adequately prepared” to deal with the impact of the US decision. Presently, Iran oil is fulfilling around 10 per cent of India’s energy requirement.
An official statement issued by the Ministry of External Affairs (MEA), stated “Government has noted the announcement by the US government to discontinue the Significant Reduction Exemption (SRE) to all purchasers of crude oil from Iran and it will continue to work with Washington and other partner countries to find “all possible ways” to protect its energy and economic security interests.”
In March, when Foreign Secretary Vijay Gokhale was in Washington DC for the India-US Strategic Dialogue he had during his meetings with the top officials discussed possibility of extending the waivers.