TNPSC Thervupettagam

Iranian Oil

April 24 , 2019 2044 days 851 0
  • The U.S. has decided that it will not renew exemptions from its sanctions for countries importing oil from Iran.
  • The ending of sanction waiver is part of the US strategy to exert maximum pressure and isolate Iran.
  • India, China, and U.S. allies Japan, South Korea and Turkey will be the most impacted.
  • India is the second biggest buyer of Iranian oil after China.
  • India should get a waiver from the U.S. for both
    • Oil Import
    • Development of Chabahar Port

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