Tehran, YJC. The Iranian Oil Ministry has announced that India is seeking to invest in Iran’s petrochemical industry.
Iran’s Deputy Oil Minister Abbas Sheri Moqaddam said, "Since
the Iranian oil money in India has been frozen, the country intends to compensate
by financing Iran’s petrochemical projects.
Pointing out that due to technological advancements in
petrochemical industries, Iran needs to import finance and technology from
overseas, Moqaddam stated that the only way for Iran to use the sources is to
improve relations with other countries in order to attract investors.
But, he said, international sanctions have targeted our
industries and our relations with the world and the Rouhani administration is
trying to improve the situation by opening up to the world.
Iran and India have been trying to find indirect ways to
make a trade-off.
Recently Iran's Health Ministry also said that India
partially pays Iran back on its oil by giving the country drugs and medical technical
services.
It said that the trade
comes under the name of humanitarian aids which are not subject to the international
sanctions.