The prospects of economic cooperation continuing between Iran and India still seem promising, given New Delhi's long-held policy of balancing its relations with Tehran and Washington and a sanctions exemption for the development of Chabahar Port, say political observers.
“India is carving out a middle ground approach, as it is willing to buy Iranian crude but at the same time wants to avoid falling foul of US sanctions since its economy is closely intertwined with America's,” Mohsen Roohi-Sefat, a former diplomat, told the Iranian Diplomacy website in a recent interview.
India was Iran's top oil client after China but halted imports after Washington reimposed sanctions on the OPEC producer and later withdrew waivers to eight nations, including India, which had allowed them to import some Iranian oil.
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