According to Indian newspaper ‘The Print’, speaking to reporters on the sidelines of an event organized by the Indian Association of Foreign Affairs Correspondents (IAFAC), Chegeni said New Delhi and Tehran can conduct trade through IDBI and UCO Bank, IRNA Reported.
“India is a good friend. We are neighbours. Our history is deep-rooted,” he added.
“I’m hopeful India will begin (purchasing oil from Iran),” he noted.
“India understands that these are unilateral sanctions by America and not by the UN,” he reiterated.
Iran may have to look at other markets to source items such as rice due to a paucity of money, Iranian envoy was quoted as saying.
Chegeni went on to say that India understands the fact that unilateral sanctions were imposed by the US and the UN plays no role in implementation of these sanctions.
He said two-way trade between the countries reached almost $13 billion in 2019, but the pace slowed down as India brought its oil imports to zero owing to the threat of sanctions by the Donald Trump administration.