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Iran Nuclear Deal
January 8 , 2020
1677 days
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- Iran had completely withdrawn from JCPOA (Joint Comprehensive Plan of Action) nuclear deal.
- The announcement came after the US troops killed General Qassem Soleimani.
- The Iran nuclear deal also called as Joint Comprehensive Plan of Action (JCPOA) was signed between Iran and the P5 plus Germany and the EU in 2015.
- P5 is the five permanent members of the UNSC (US, China, France, Russia, and UK).
- The deal restricts Iran’s nuclear programme, in return for lifting most economic sanctions against it.
Implications for India:
- Iran is presently India’s third biggest supplier (after Iraq and Saudi Arabia) of oil, and any increase in prices will hit both inflation levels as well as the Indian rupee.
- It would impact the development of Chahbahar port.
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