When the United States pulled out of the Iran deal, economies across the world braced themselves for the consequences. India, too, is stuck in the crossfire — its dependence on Iranian oil on one hand and its growing American interests on the other.
What the Trump administration expects
In a two-day visit to India, US ambassador to the UN Nikki Haley categorically stated that India should look for alternate sources of oil and cut its dependence on Iran for the same. Since the US is no longer a part of the Iran oil deal, it was going to reinstate economic sanctions on Iran, which would affect all countries in business with the oil-rich state. Read More