US treasury secretary to hold talks in India as pressure builds on Iran

US Treasury
Secretary Steven Mnuchin will hold talks with Indian leaders in New Delhi on
Friday, Indian official said, as part of a tour to build support against Iran
over its nuclear programme and its ties to militant networks.

On
Wednesday, the United States and six Gulf countries agreed to jointly impose
sanctions on 25 corporations, banks and individuals linked to Iran’s support
for militant networks including Hezbollah, the U.S. Treasury Department said.

Mnuchin
along withby Donald Trump’s senior advisor and son-in-law Jared Kushner, began
a regional tour from Oct. 25 through Saudi Arabia, Israel, United Arab
Emirates, India and Qatar.

In New Delhi
he will hold talks with Finance Minister Nirmala Sitharaman, an Indian
government official said. No details were provided.

Other
members of the U.S. delegation include under secretary for international
affairs Brent McIntosh and assistant secretary for terrorist financing and
financial crimes Marshall Billingslea.

India, a
long-time buyer of Iranian oil, made a pause on purchases in May in the wake of
renewed U.S. sanctions, and its refiners are now buying more crude from some
suppliers, including Mexico, and signed new contracts with U.S. firms.

Sanctions
were reimposed on Tehran by President Donald Trump after he withdrew the United
States from Iran’s 2015 nuclear pact with world powers. Aside from controlling
Iran’s oil exports, the sanctions also cut Iranian bank’s ties to the financial
world.

Mnuchin and
the U.S. delegation will travel to Mumbai, India’s financial capital, on Saturday
for talks with Reserve Bank of India Governor Shaktikanta Das and other central
bank officials, before meeting later with Indian business leaders, a RBI
official said.