Indian Oil Firms Not Exporting Gasoline to Iran Amid US Sanctions

Strategic Insights -

The Indian oil industry is complying with US sanctions on Iran, according to Minister of State for Petroleum and Natural Gas Jitin Prasada. He stated in Parliament that no Indian oil firm, including Reliance Industries, has exported gasoline to Iran this fiscal year. The only instance of gasoline being supplied to Iran was by Reliance Industries in April and May 2009. The minister attributed this decision to comply with the Comprehensive Iran Sanctions and Divestment Act passed by the US Senate on January 28 this year.

Key Takeaways:

  • No Indian oil firm, including Reliance Industries, has exported gasoline to Iran this fiscal year.
  • The only instance of gasoline being supplied to Iran was by Reliance Industries in April and May 2009.
  • The Indian government has conveyed to the US that sanctions on Iran have been counter-productive and should be resolved peacefully through dialogue.
  • The US Senate passed the Comprehensive Iran Sanctions and Divestment Act on January 28, authorizing the President to apply sanctions on foreign entities that invest in Iran's domestic refining sector or sell refined petroleum products to Iran.
  • Reliance Industries and other Indian oil firms have exported gasoline to various countries, including Indonesia, Kenya, Mauritius, and the UAE, during April-December.
  • The Government of India has not received any objections from the US regarding Reliance Industries' supply of gasoline to Iran.

Statistics:

  • 0 Indian oil firms have exported gasoline to Iran this fiscal year.
  • 1 instance of gasoline being supplied to Iran in April and May 2009 by Reliance Industries.
  • 15 countries received gasoline exports from Indian oil firms, including Indonesia, Kenya, Mauritius, and the UAE, during April-December.
  • 1 law passed by the US Senate on January 28 this year.
  • 0 sanctions raised concerns from the US Government regarding Reliance Industries' gasoline exports to Iran, according to Minister Prasada.

Sources:

  • Minister of State for Petroleum and Natural Gas Jitin Prasada's written reply to a question in the Rajya Sabha on March 10, 2009 (PTI)