India downplays US's decision on Iran sanctions

Washington, June 12 (ANI): India has sought to downplay the United States's decision of exempting it from economic sanctions for cutting the oil imports from Iran, saying it was a decision taken by the U.S. Government under its domestic law.

"We have seen the U.S. notification exempting Indian financial institutions from the application of the provisions of U.S. domestic law for energy-related transactions with Iranian Central Bank and other financial institutions designated by US Government. This is a decision taken by the U.S. Government under its domestic law," said External Affairs Ministry spokesperson Syed Akbaruddin.

"India and the U.S. have a growing strategic partnership. The India-US Strategic Dialogue on June 13 will once again demonstrate the strength of our relationship and the extraordinary breadth of our bilateral cooperation, based on our shared values and convergent interests," he added.

U.S. Secretary of State Hillary Clinton had earlier announced that India and six other nations would be exempted from financial sanctions as they have "significantly" cut purchases of Iranian oil.

According to the report, Clinton said in a statement the sanctions aim to 'prevent Iran from acquiring a nuclear weapon and to encourage Iran to comply with its international obligations'.

She stressed that by halting oil purchases the governments are sending a message to Iran's leaders that until they come clean on their nuclear program, they would face further isolation and pressure.

Other countries that won't face U.S. penalties include South Korea, Malaysia, South Africa, Sri Lanka, Turkey and Taiwan. (ANI)