With news coming in that the Trump administration has imposed its “toughest ever” sanctions against Iran, New Delhi has managed to convince Washington the importance of the Chabahar port and is one of the eight countries including US allies India, Italy, Japan and South Korea to have been exempted by the Trump administration to continue importing Iranian oil.
According to experts, the sanctions waiver from the US for allowing India to carry on buying oil from Iran was expected. Both countries India and Iran have already decided to bypass sanction by trading in local currencies
Sources told FE Online that in the last few months there have been several rounds of talks with the between the India and the US officials related to the sanctions to be imposed by the US over Iran. We have listed out our concerns and informed them that the there has been a decrease in the oil import from Iran.” Read more