The two countries are finalising the ‘time schedule’ and ‘detailed agenda’ for the first meeting of a joint working group (JWG) on energy, said a government official, requesting anonymity. The group will not only discuss oil purchases, but will also extend to liquefied natural gas (LNG), including cargo swap options for gas. The US said recently that it will not extend the exemptions to eight countries, including China and India, from its sanctions against Iran from 2 May. The strategic rivals have made progress on joint sourcing of crude oil, with Li Fanrong, deputy administrator of China’s National Energy Administration, visiting New Delhi in March. The energy engagement comes after the Wuhan summit in April 2018 between Prime Minister Narendra Modi and Chinese president Xi Jinping.

Source: Mint May 14, 2019 18:33 UTC