Energy At Stake, India Wants Us To Engage With Iran


Energy At Stake, India Wants Us To Engage With Iran

With a lot at stake in Iran, India on Wednesday urged the US and its allies to engage constructively with Tehran and resolve issues arisen after Washington pulled out of the Iran nuclear deal.

US President Donald Trump had on Tuesday announced withdrawal from the Joint Comprehensive Plan of Action (JCPOA), formed in 2015 to rein in Iran’s nuclear programme.

Trump termed the agreement as “decaying and rotting” while announcing his decision to pull out of the six-nation pact. The move is expected to be followed by economic sanctions against Iran which may push the oil prices globally.

Iran is India’s third biggest supplier of oil after Iraq and Saudi Arabia. Any increase in oil prices will adversely impact inflation and the value of the Indian rupee. Read More

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