Report: US sanctions may derail India-Iran energy deals

By JPOST.COM STAFF
July 19, 2010 16:03

The latest round of unilateral US sanctions against Iran could derail planned energy projects between Iran and India, said India's Petroleum Secretary S. Sundareshan, the Wall Street Journal reported Monday.

Indian energy companies were considering deals with Iran, a large potential oil source for the fast-growing country. The two countries recently restarted talks over a $7.4 billion natural gas pipeline from Iran to India and Pakistan, said the Wall Street Journal.

"These are Indian public-sector companies who are negotiating these [deals]," Mr. Sundareshan said. "We've asked them to obtain appropriate legal advice."

Shortly after the US sanctions went into effect, Indian Foreign Secretary Nirupama Rao said India was concerned that "certain unilateral sanctions recently imposed by individual countries" might "have a direct and adverse impact on Indian companies and more importantly, on our energy security."


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