India, US to enhance cooperation in combating terrorism

NEW DELHI (AP) — India and the U.S. agreed Friday to enhanced cooperation in tackling money laundering and combating the financing of terrorism.

A statement issued after a meeting of the Economic and Financial Partnership group said the cooperation was not limited to information exchanges involving global terrorist financing or the designation of specific terrorist facilitators and financiers.

It said India has demonstrated its support for action against non-compliant countries.

The Indian side was led by Finance Minister Nirmala Sitharaman, and the U.S. delegation by Treasury Secretary Steven Mnuchin.

The statement didn't say whether the two countries have sorted out their trade dispute.

India imposed tariffs on 28 American products, including walnuts and almonds, in June in retaliation for the U.S. ending India's preferential trade status.

Washington imposed higher duties on Indian products, including aluminum and steel.

India's burgeoning oil needs also figured during talks between Mnuchin and Seetharaman.

India stopped oil purchases from Iran after a U.S. sanctions waiver ran out in May, but Indian officials have continued working for a renewal of the waiver amid escalating tensions between the U.S. and Iran. Indian officials say they understand the U.S. concerns regarding Iran, but their country has taken an economic hit.

According to Mint newspaper, Mnuchin said the U.S. is working with its allies to make sure that there is significant supply of oil in the market to offset the Iran sanctions.