US has been pursuing world economies to downgrade their trade relations with Iran and India is no exception to it. India started improving its trade relationships with Iran during 2016 after the Obama administration withdrew sanctions against Iran, albeit there has been a shift in policy again as President Trump decides to isolate Iran from the world trade map.
In May 2018, President Trump announced that his administration was withdrawing from the “defective” nuclear deal agreed among Iran and six other world powers. In July 2015, an agreement was concluded among Iran, China, US and other European countries to limit Iran’s nuclear activities, in exchange for reduced sanctions.
According to the agreement called Joint Comprehensive Plan Of Action, the President of the United States would certify that Iran would adhere to the terms of the agreement every 90 days. On October 13, 2017, President Trump announced that the US would not make the certification and on April 30, 2018, the United States and Israel stated that Iran did not disclose a past covert nuclear weapons program to the International Atomic Energy Agency which was required in the deal. Read more
Latest posts by Moneycontrol.com (see all)
- Rail Ministry approves new Rajdhani Express from CSMT; first for Central Railways - January 16, 2019
- Indian Oil to raise $900 million via bonds issue - January 16, 2019
- Crude Oil prices are expected to trade higher today: Angel Commodities - January 15, 2019