India will continue doing business with Iran: Sushma Swaraj

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She was responding to a question on India's response to the U.S. withdrawal from the Iran nuclear deal.

Iran's Foreign Minister Mohammad Javad Zarif and his Indian counterpart Sushma Swaraj walk after a photo opportunity in New Delhi, India, May 28, 2018.

Iran and India enjoy deep relations in political and economic sectors.

On Capitol Hill, opponents of the nuclear accord are working on parallel efforts to ensure that any foreign nation caught skirting new US sanctions on Iran faces harsh repercussions, including massive economic penalties and a possible cutoff from the USA financial system.

The Indian government issued a statement following their meeting.

India continued to trade with Iran throughout previous sanction periods, but was forced to cut oil imports as sanctions choked off banking channels and insurance cover for tankers.

A U.S. State Department official, speaking only on background, told the Free Beacon that under newly installed Secretary of State Pompeo's leadership, American diplomats are already developing relationships aimed at ensuring U.S. sanctions on Iran have a maximum impact.

Washington has recently imposed additional sanctions on Venezuela following the re-election of President Nicolas Maduro.

It said New Delhi wants the nuclear deal's signatories to engage constructively with Tehran.

"We can not have any trade in cryptocurrency, as it is banned by the Reserve Bank of India".

"We believe in United Nations sanctions, but not in country-specific sanctions", she said.

According to the MEA, India-Iran bilateral trade during the 2016-17 fiscal year totaled US$12.89 billion. Tehran is one of New Delhi's top oil suppliers.

What's more of a puzzle, though, is why they continue to support Venezuela. But the Indian security establishment remains quite upset at the U.S. state department's move on April 6 to notify 39 Russian entities, including the state-controlled arms exporter Rosoboronexport, with which India does regular business.

During Rouhani's visit, Iran awarded a much-awaited agreement to India over the management of part of its strategic Chabahar port - a move that could enable India to dodge Pakistan and reach markets in Afghanistan, Central Asia and beyond. And, India wants a good relationship with Iran as a way of offsetting its hard relationship with Pakistan. "In the course of these 60 days, the French government may also initiate talks with the USA government aimed at ensuring Total's stay in Iran", the Iranian oil ministry's news service Shana quoted the minister as saying.