India might become a part of Iran’s Farzad B gas field projects

India might become a part of Iran's Farzad B gas field projects
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India might become a part of the projects unfolding in the Farzad B gas field in Iran. This may come at a later stage as per Ministry of External Affairs.

The statement comes from MEA’s official spokesperson Arindam Bagchi. Earlier, Iran had also announced that it will develop the gas field domestically and signed a deal with Petropars.

The deal was signed with the Petropars Group last Monday. While Iran’s Minister of Petroleum Bijan Zanganeh had also announced that the gas field will be developed with domestic support.

Moreover, Iran says that the U.S. sanctions were the reason behind its decision to go domestic on the gas field. India had also frozen energy ties with Iran because of the sanctions threat.

It now seems that India is planning to re-energise ties with Iran in the gas and oil sector. READ MORE HERE ON INDIA-IRAN TIES

This comes after the Joe Biden administration shows interest in reconciling the broken ties with Iran.

Iran and six other countries in 2015 had reached an agreement. It also would stop some nuclear work in return for an end on sanctions against it. As these sanctions were hurting its economy.

But Iran had re-started the banned nuclear work. This meant the return of sanctions against the country. Now the efforts are going on to revive the nuclear deal.

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