On February 19, 2018, Iranian President Hassan Rouhani completed his three-day tour of India. Rouhani’s visit was a reciprocal visit which took place in response to the Indian Prime Minister Narendra Modi’s 2016 visit to Tehran—a visit which laid the foundations for a trilateral agreement on transit and transport between India, Iran and Afghanistan. As bilateral talks between India and Iran concluded on February 17, the Indian Ministry of External Affairs released a joint statement and a list of nine Memorandums of Understanding (MoU) signed by the two countries.India for Iran has been a major buyer of its oil and gas reserves. The two are known to have had continued trade ties even at a time when Tehran was otherwise globally isolated, owing to sanctions over its nuclear program through 2012 and 2016. With the relaxation of Western sanctions, Iran has become the third largest supplier of crude oil to India after Iraq and Saudi Arabia. Rouhani’s visit last month had Iran focusing on India more specifically as an ‘economic partner’.
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