The assertion was made in Lok Sabha by Minister of State for External Affairs V K Singh while replying to a question on whether India will continue its economic relations with Iran in terms of both oil imports and investment in Chabahar port in the wake of the USA sanctions against the Persian Gulf country. Most recently, the Trump White House has announced that it seeks to supposedly bring Iran's oil sales down to "zero".
Following high-level meetings between Iranian officials and the Kremlin, both sides talked of taking measures to counter the threat of sanctions after President Trump's decision to withdraw from the 2015 worldwide deal over Tehran's nuclear programme.
"A USA delegation now holding talks in India will be visiting Ankara on Friday regarding sanctions against Iran", a foreign ministry official told Reuters. Turkey seems to be standing strongly by Iran's side as the United States plans to isolate Iran economically.
In May, the European Commission reportedly proposed that EU governments make direct money transfers to Iran's central bank to avoid United States penalties.
Three weeks ago the foreign minister of Turkey said that Iran is a good neighbour of Turkey and the two nations share good economic ties.
Meanwhile, only a few businesses have taken advantage of euro-denominated financing set up by European countries to trade with Iran.
To ignite the European spirit amid trade tensions with the United States, Iranian foreign minister Javad Zarif said that Europe should not sell itself short in the global affairs. This comes while last week Iranian hardliners overturned the Rouhani administration's decision to join the FATF.
The other signatories have been scrambling to save the deal.
Coincidentally, Rouhani's visit to Austria came soon after it was revealed that an Iranian diplomat stationed there had been arrested by German authorities in June, on suspicion of masterminding a plot to detonate explosives at a gathering of Iranian opposition activists and their worldwide supporters in Paris.
"We have to take note of the fact that we would risk the business model of the bank if we were active in Iran". Accounts show that no sterling or euro credits have been provided to British companies exporting to Iran in the 2017-2018 financial year.
According to the WSJ, the officials said other European governments, including Austria and Sweden, have also said they would consider doing likewise.
The trio, the officials said, had laid out their plans to Iran during recent discussions among foreign ministers and senior officials in the Austrian capital, Vienna, and are still trying to iron out the details of their initiatives.