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February 10, 2012

Does India Need Iranian Oil?

P. R. Kumaraswamy, Institute for Defence Studies & Analyses


AP Photo

Speaking to reporters in Chicago, Finance Minister Pranab Mukherjee was defiant and categorical: it is not possible for India to reduce oil imports from Iran. Coming within days after the European Union decided to stop such imports from July, this indicated India’s refusal to join the western chorus against Tehran. At another level, it also marked a definite clarity in India’s Iran policy that was on a rollercoaster ride since early 2005. . .

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TAGGED: oil dependency, India, global oil market, foreign oil, oil, iran, Institute for Defence Studies & Analyses

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