Deal will boost New Delhi’s energy ties with Tehran

November 25, 2013 12:26 am | Updated May 26, 2016 09:04 am IST - NEW DELHI

India’s first major engagement with Iran after it struck a deal with six world powers on its nuclear programme will take place here on Monday.

Foreign Secretary Sujatha Singh will review with Iran’s Deputy Foreign Minister Ibrahim Rahimpur the extensive list of India-Iran cooperative projects that have been put on hold because of the U.S. sanctions. Iran will look to get a windfall of more than $6 billion from its oil sales to India because the sanctions had cut off bank transfers. In the longer term, government officials, analysts and academics are anticipating gains in geopolitics, energy and trade transport.

Ms. Singh and Mr. Rahimpur will consider invigorating the energy ties through increased shipments to refineries that have almost halved their consumption of Iranian oil; exploration and drilling of gasfields allotted years ago by Iran; and resumption of talks for a gas pipeline.

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