Iran, India talk energy cooperation at BRICS meeting

Iran’s Oil Minister, Mohsen Paknejad, met with India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Thursday to discuss strengthening bilateral energy cooperation. The meeting took place in New Delhi on the sidelines of the 11th BRICS Energy Ministers Meeting, which India is hosting this year.

The discussions focused on exploring opportunities to enhance collaboration in the hydrocarbon sector, reflecting a mutual interest in rebuilding energy ties. Historically, India was a major buyer of Iranian crude, importing over 500,000 barrels per day in 2018. However, those purchases ceased in 2019 after the United States reimposed sanctions on Iran’s oil exports, forcing Indian refiners to seek alternative suppliers.

The dialogue occurs amid shifting global energy dynamics. Last week, Iran and the United States signed an interim deal, leading Washington to issue a temporary license allowing the export of Iranian energy products. While no agreement to resume oil trade was announced, the ministerial meeting signals both nations are engaged on energy issues. For Iran, India represents a significant potential market, while India’s policy emphasizes diversifying energy...