India is ready to import more crude oil and liquefied natural gas (LNG) from the United States. This move is to expand bilateral trade, India’s Foreign Secretary Vijay Gokhale said on Wednesday.
Speaking after a meeting between India’s PM Modi and U.S. Vice President Mike Pence on the sidelines of an ASEAN summit in Singapore, Gokhale said, commenting on the topics discussed:
“There was a lot of discussion on energy, this is a new sector in the Indo-US relations. We have begun importing oil & gas from United States.”
“It is expected to be valued about $4 billion this year and we expressed our readiness to import more oil and more gas from the United States as a way of expanding our trade,” Gokhale added.
Two months before the U.S. sanctions on Iran’s oil were re-imposed, India—Iran’s second-biggest oil customer after China—said that it would be looking at the economics—and not the politics—of importing U.S. crude oil, and Indian imports of American oil should not be seen as a replacement for Iranian barrels.