Alwaght- India’s Minister of Finance and Corporate Affairs Nirmala Sitharman told the Russian broadcaster RT that her country will prioritize its economic growth and interests over the execution of the American oil sanctions on other countries.
“India wants to comply with global sanctions, including United States actions against Venezuela and Russia, but also needs to maintain its own strength and strategic interests,” Sitharaman told the Reuters news agency in an interview.
"In specific issues which are critical for India's strategic interests, we have explained to the United States that India is a strategic partner for the United States of America and you want a strategic partner to be strong and not weakened," she said.
She said that India is an economic partner to the US and a real partner should not seek to undermine the Indian economy.
The International Monetary Fund (IMF) earlier on Tuesday lowered its outlook for Indian growth in 2019, citing weaker-than-expected domestic demand, reports said.
India's gross domestic product grew at its weakest pace since 2013 between April and June, stoking expectations of further stimulus, Aljazeera reported.
According to the reports, after four months, the Indian oil refining company Reliance Industries Limited is expected to resume oil imports from Venezuela. The reason is said to be the shortage of heavy oil in the markets and the other suppliers’ inability to provide it to the Indian refineries.
The Indian government also buys oil from Iran, despite Trump's reinstatement of sanctions in May last year following his withdrawal from the nuclear deal.