NEW DELHI, June 18 — With the United States and Iran electronically signing a Memorandum of Understanding (MoU) aimed at ending the conflict, Iran’s Ambassador to India, Mohammad Fathali, expressed optimism that the complete removal of sanctions would not only revive Iranian oil exports to India but also help bilateral trade exceed previous peak levels and reach its full potential.
In an exclusive interview with ANI, Fathali noted that before the imposition of sanctions, Iran was at times among India’s top three crude oil suppliers, while bilateral trade exceeded $17 billion annually. He said those figures demonstrate the tremendous potential for economic and energy cooperation between the two nations.
“Iran is one of the world’s largest producers and exporters of oil, and our policy has always been to make our energy resources available to all countries that seek them. India has historically been one of Iran’s most important oil customers, and energy cooperation between our two countries has a long and successful track record,” he said.
The envoy said India requires reliable, stable, and affordable energy supplies, and Iran possesses extensive capabilities to meet those needs.
“Therefore, should sanctions be lifted and normal conditions restored, there is no doubt that Iran can once again become one of India’s principal oil suppliers,” he said.
“We hope that with the complete removal of sanctions, not only will Iranian oil exports to India resume, but bilateral trade and joint investments will also surpass their previous peak levels and reach a scale commensurate with the true potential of our two countries,” he added.
Fathali expressed hope that the agreement would lead to the complete removal of what he described as “all unjust and unilateral sanctions imposed” on Iran, including those related to oil exports.
“Naturally, achieving this objective will require continued dialogue, future negotiations, and agreement on the details and implementation mechanisms. If there is sufficient political will and all parties remain committed to their obligations, there is reason to be optimistic that the process of sanctions relief can move forward more rapidly in the future,” he said.
The U.S.-Iran Memorandum of Understanding states that the United States “undertakes to terminate all types of sanctions against the Islamic Republic of Iran, including the United Nations Security Council resolutions, International Atomic Energy Agency (IAEA) Board of Governors resolutions, and all unilateral U.S. sanctions, primary and secondary, in an agreed-upon schedule.”
“As part of the final deal, the Islamic Republic of Iran and the United States of America acknowledge the critical importance of the sanctions termination issue mentioned above and express their intentions to immediately address these issues in the negotiations in order to achieve mutual agreement on them,” the MoU states.
“The United States of America undertakes that immediately upon the signing of this MoU and until the termination of sanctions, the U.S. Department of the Treasury will issue waivers for the export of Iranian crude oil, petroleum products and derivatives, and all associated services, including banking, transactions, insurance, and transportation,” the agreement notes.
The United States and Iran achieved a diplomatic breakthrough after U.S. President Donald Trump signed the peace deal Memorandum of Understanding with Iran during a dinner with French President Emmanuel Macron at the G7 summit in Versailles. (ANI)
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