Iran on Wednesday claimed that its envoy’s remark on restricting special privileges to India if it reduced its oil imports from Tehran was misquoted, the Hindustan Times reported. The oil-rich nation promised to be a reliable energy partner to India.

Contrary to what Iran’s charge d’affaires Massoud Rezvanian Rahaghi was quoted as saying, the Iranian embassy, in a statement, said it understands the challenges New Delhi faces in an unstable energy market, PTI reported. “Iran has done and will do its best to ensure security of oil supply to India through offering various flexibility measures which facilitates our bilateral trade, in particular Indian export to Iran,” the statement read.

It added: “Iran has always been a reliable energy partner for India and others, seeking a balanced oil market and rational prices of oil which ensures the interests of both…consumer and supplier.”

During a seminar in New Delhi, Rahaghi had criticised India for not fulfilling its promise of making investments in the expansion of the strategically-located Chabahar port.

Iran, in its statement on Wednesday, stressed on the importance of Indian investments in the country. “Iran has always welcomed Indian initiatives, however, due to the importance of the issue, Iran has frequently emphasised on expediting Indian investment, and pushing Indian partner companies to accelerate their engagement in execution of the projects,” the statement said.

The developments came days after the United States asked its allies, including India, to stop importing crude oil from Iran by November 4. India has said it will engage with relevant stakeholders to ensure that energy security is not compromised.