US Sanctions on Iran: How India Can Cushion Blow to its Economy


US Sanctions on Iran: How India Can Cushion Blow to its Economy

The US suddenly made an announcement on 22 April 2019, that it will end all Iran sanction waivers after 2 May 2019. These waivers were granted to eight countries for an initial period of 180 days, after the US had imposed sanctions against Iran’s oil export on 5 November 2018.

The international oil market was expecting this waiver to be renewed beyond 2 May 2019. The US administration said in a statement that “President Donald J Trump has decided not to reissue Significant Reduction Exceptions (SREs) when they expire in early May.

This decision is intended to bring Iran’s oil exports to zero, denying the regime its principal source of revenue.” As it stands now, five nations, i.e. Japan, South Korea, China Read More

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