On 22 April, President Donald Trumps’ administration refused to extend the waiver it had granted to eight countries including India and China from stopping the import of crude oil from Iran.
In November 2018, U.S. President Donald Trump withdrew from the 2015 Iran nuclear deal and re-imposed broad economic sanctions. New Delhi, along with seven other nations had been given a six-month waiver to import 300,000 bpd or nine million barrels of oil a month from Iran until early May.
New Delhi has made statements indicating that it will fall in line and has plans in place to diversify its oil imports. Irrespective of whether it succeeds in its endeavor and the impact it can have on its economy, New Delhi’s relations with Iran is all set to encounter some serious challenges. Read More
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