By Admin 
The agreement was signed on Thursday (18 June 2026) to end the months-long conflict and tension between America and Iran. The purpose of this agreement is to extend the ceasefire between the two sides and to resume shipping transit through the Strait of Hormuz. With this deal, the global energy supply chain is also expected to become normal. Meanwhile, Iran’s Ambassador to India, Dr. Mohammad Fathali said that Iran has huge potential to meet the energy needs of India.
Sanctions lifted on Iran
Under the 14-point agreement between America and Iran, all the sanctions imposed on Tehran have been lifted. Iran can now sell oil to the world. In an interview given to news agency ANI, Mohammad Fathali said, ‘India needs reliable, stable and affordable energy supply. Iran has great capacity to meet these needs. If the sanctions are removed and the situation becomes normal, then there is no doubt that Iran can once again become one of the main oil suppliers to India.
‘Iran will meet India’s oil needs’
He said, ‘Iran is one of the world’s largest oil producers and exporters. Our policy has always been to make our energy resources available to all those countries who want us. Historically, India has been one of Iran’s most important oil customers. Energy cooperation between the two countries has a long and successful track record. India needs reliable, stable and affordable energy supply and Iran has great potential to meet these needs.
The Iranian ambassador said, ‘If the sanctions are removed and the situation becomes normal, then there is no doubt that Iran can once again become one of the main oil suppliers to India. We hope that after the complete lifting of sanctions, not only will Iran’s oil exports to India resume, but bilateral trade and joint investments will also surpass their previous highs and reach levels commensurate with the real potential of our two countries.
China is the biggest buyer
China has been buying about 90% of Iran’s total oil exports. An agreement worth $400 billion (about Rs 33 lakh crore) was signed between the two countries in 2021, under which Iran supplies oil to China at concessional rates. This agreement is for 25 years. During the recent war between Iran and America, the oil supplied to China was also affected. In such a situation, after the sanctions on Iran are lifted, it will start supplying oil to China as before.
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