Hassan Rouhani’s remarks came after the Trump administration announced Wednesday it had imposed financial sanctions on Foreign Minister Mohammad Javad Zarif as part of its escalating campaign of pressure against the Islamic Republic.
Iran warned Tuesday that new U.S. sanctions targeting its supreme leader and other top officials meant “closing the doors of diplomacy” between Tehran and Washington amid heightened tensions, even as the country’s president derided the White House as being “afflicted by mental retardation.”
Until now, the US in its sanctions had targeted broad economic sectors and government entities in Iran, such as the Revolutionary Guard, as opposed to specific individuals.
"We appreciate that the US government has taken into account our need for energy security and understood our sensitivities on this matter", MEA spokesperson Raveesh Kumar said.
The measures are the concrete result of President Donald Trump's decision to withdraw from the 2015 multi-nation nuclear deal signed with Tehran signed during the tenure of former President Barack Obama.
The latest development comes amid reports that India might get waiver from the sanctions.
The MEA's presser comes amid indications that the Trump administration may grant New Delhi waiver from punitive measures.
Iran will start on Sunday to offer 1 million barrels of light crude oil on a daily basis, while the minimum volume of purchase will be 35,000 barrels, the report said.
The announcement came two weeks before the Trump administration reimposed some of the United States’ harshest sanctions against Iran, including its oil sector.
Last week, Pradhan said two state-owned oil refiners have booked import of 1.25 million tonne (MT) of crude oil from Iran in November.
The meeting, coordinated by the NITI Aayog, is likely to focus on challenges posed by volatile oil prices and the US sanctions on Iran.
Earlier on Sunday, the Saudi stock market plunged nearly seven per cent amid fears of imminent US sanctions.
CAATSA gives the Trump administration more ways to target Russia, Iran and North Korea with economic and political sanctions.
"We have comprehensive cooperation with India that includes energy cooperation,” said Iranian Foreign Minister.
Oil refiners such as state-owned Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) could use UCO Bank or IDBI Bank to route oil payments to Iran, the official added.
Iran accused the US of reneging on the nuclear agreement, signed by the Obama administration, and of causing recent Iranian economic unrest. European allies said they “deeply regret” the US action.
Prominent Iranian analyst Seed Leilaz downplayed the war of words, saying he thinks it was “the storm before the calm.”
In today's meeting, India told the Iranian side that it was yet to take a call on complying with the US sanctions.
The embassy said Iran will do its best to ensure security of oil supply to India by offering various flexible measures which facilitate bilateral trade, particularly Indian exports to Iran.
Iran has also warned that India will lose "special privileges" if the country cuts import of oil from it under pressure from the US.
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