India today welcomed the lifting of nuclear-related sanctions against Iran as milestone. External Affairs Ministry in a release today said India looks forward to further developing its longstanding,close economic cooperation with Tehran, including in the spheres of energy and regional connectivity.
Earlier this week, the US and the EU have lifted crippling sanctions against Iran following the UN nuclear watchdog’s finding that Tehran had curbed its nuclear program as promised.
Indian firms have so far shied away from investing in Iran for the fear of being sanctioned by the US and Europe. But after the lifting of sanctions, India is making a renewed pitch for rights to develop 12.8 Trillion cubic feet of gas reserves ONGC Videsh Ltd had found in 2008.