After pulling out of the Iran Nuclear Deal, the US has asked India to stop importing oil from Iran. As a part of India-Iran Oil Deal, India is among the major importers of oil from Iran. However, the US has ruled out any exceptions to India-Iran trade amid massive US sanctions coming Iran’s way.
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The US Asks China, India to Stop Oil Trade with Iran
The US has asked all countries to stop importing oil from Iran. China and India are among the largest importers of oil from Iran. Now after the US pulled out from the Iran Nuclear Deal, India has been in a dilemma over India-Iran trade especially that of oil. The US has directed all countries to stop all their oil imports from Iran by November 4 in a bid to isolate Iran’s funding channels.
The US officials stated that Indian companies will have to face the same sanctions as others if they continue to engage in sanctions areas of the economy. The US wants India-Iran oil trade to drop down to zero. The US officials explained that this is a part of the Trump Administration’s plans of isolating Iran’s funding streams.
Next week bilateral talks will be held between India and the US. This issue of the US warning India to withdraw from India-Iran oil trade will surely feature on top of the agenda. India’s Foreign Minister and Defence Minister will be in Washington next week.
As of now, India maintains that it will not follow sanctions which have been imposed by the UNSC. Hence, it is highly likely that India will resist complying with the US sanctions. Even China may not be very keen to give up on its oil imports from Iran.
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