November 14, 2018 / 6:32 AM / a month ago

India says ready to import more gas and oil from the United States

India's Prime Minister Narendra ModiÊand U.S. Vice President Mike Pence hold a bilateral meeting in Singapore, November 14, 2018. REUTERS/Athit Perawongmetha

SINGAPORE (Reuters) - India’s foreign secretary Vijay Gokhale said on Wednesday the country is open to importing more oil and gas from the United States.

“We expressed our readiness to import more gas and more oil from United States as a way of expanding trade,” Gokhale told reporters on the sidelines of an Asian summit attended by Prime Minister Narendra Modi.

The United States early this month re-imposed sanctions against Iran’s oil exports to punish Tehran for its involvement in several Middle Eastern conflicts and curb its nuclear programmes.

But fearing a price spike, Washington granted a sanctions waiver to eight of the biggest buyers of Iran’s oil, including India.

India is expected to import about $4 billion of oil from the United States this year, Gokhale said.

Reporting by Aradhana Aravindan; writing by Jack Kim; editing by Richard Pullin

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