Hopeful of oil price stability, Trump tells Modi: PM talks on reduced oil import from Iran

JAPAN

The US President Donald Trump on Friday told Prime Minister Narendra Modi that he is ‘hopeful’ about price stability of oil in the context of crisis in the Gulf region while Mr Modi on his part said though Iran supplies 11 per cent of India’s energy, his government has ‘reduced’ oil imports from Iran.

“Prime Minister Modi pointed out (during bilateral talks) that although Iran supplies 11 per cent of our energy, India had reduced oil imports from Iran,” Foreign Secretary Vijay Gokhale told reporters here after the two leaders met for the first time since Mr Modi was sworn in for the second term after the massive win in the just concluded parliamentary polls.

Mr Gokhale also maintained that President Trump “expressed his hope that oil prices will remain stable”.

Mr Trump talked about what the United States was doing to ensure that stability was maintained in the Gulf.

Briefing reporters about the bilateral parleys, Mr Gokhale further said that “India has diaspora in the Gulf region and also have energy requirements”.

“We have economic interests in the region and therefore it is in India’s fundamental interest to ensure peace and stability of the region and Prime Minister also recalled that we have deployed some of the Indian Navy Ships in the region to protect the Indian flagged vessels passing through the Gulf and the straits of Hormuz,” the Foreign Secretary said.

“This was appreciated very much by the President Trump,” he said adding both sides agreed that

both Indian and US authorities would remain in touch on the issue of Iran.

“We will continue to have mutual discussion on how we ensure regional peace and stability,” he said.