New Delhi: In the past, the US had imposed a strong ban on Iran, Venezuela and Russia for different reasons. India has strong economic relations with these countries. These countries are among the major producers of oil and gas. It has also had a negative impact on India due to the sanctions. The Government of India has given a big statement on these restrictions. Union Finance Minister Nirmala Sitharaman said that India wants to abide by global sanctions including the US sanctions imposed on Venezuela and Russia.
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However, India itself needs to maintain its economic strength and policy interests. The United States imposed the toughest ban on Venezuela's oil industry in January this year. The move eluded many global customers, but Reliance Industries Ltd. of India has been purchasing crude oil from Venezuela from the Russian company Rosneft due to a few options from heavy oil suppliers. The Finance Minister said that the Indian government has put its position before the US.
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He said, "On some specific issues that are important for India's policy interests, the US has been made aware that India is a United States policy partner and you want your policy partner to be strong, not weak. 'He said that we value a strong partnership with the US but we also need equal permission to be a strong economy. Explain that India's GDP growth has been the weakest since 2013 between April and June.
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