Diplomacyindia.com


India studies new US decision against Iran oil waiver

India studies new US decision against Iran oil waiver
April 22
20:56 2019

New Delhi, April 22 (IANS) India has seen the US announcement which says that five major countries including India will no longer be exempt from penalties if they continue to import oil from Iran, and is studying the implications of the decision, said informed sources on Monday.

The sources said that the government has seen the announcement made by the US Secretary of State Mike Pompeo that the United States will not extend any waivers to importers of Iranian oil from sanctions and there will be no grace period for them to comply.

They said that implications of the decision are being studied and a statement will be made at an appropriate time.

US President Donald Trump has decided that five major countries including India will no longer be exempt from penalties if they continue to import Iranian oil, the White House said on Monday.

It announced that sanction waivers for China, India, Japan, South Korea and Turkey would not be renewed when they expire on May 2. The decision is intended to deny Iran its principal source of revenue.

In November, the US reimposed sanctions on exports of Iranian oil after Trump withdrew from a 2015 nuclear accord between Iran and six world powers.

Washington, however, granted waiver to Iran’s eight main oil buyers from the sanctions that allowed them limited purchases for six months. These countries were India, China, Japan, South Korea, Taiwan, Turkey, Italy and Greece.

The sanctions have led to a sharp downturn in Iran’s economy, pushing the value of its currency to record lows, quadrupling its annual inflation rate and driving away foreign investors, which have triggered protests across the country.

Tags
Share

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

Social Icons

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on an eventful journey of Indian Passport through its serveral phases, fast expanding network of passport seva kendras, evergrowing numbers, citizen centric service & new Initiatives

Diplomacyindia.com Video Interview with Shri Dnyaneshwar M. Mulay Secretary (CPV & OIA), Ministry of External Affairs speaking on safety & security features of the passport documents in an era of digitalisation his cherished moments & milestones as “Passport Man” of India tranforming the entire passport landscape.

Diplomacyindia.com Video Interview : Mrs. Reva Ganguly Das (IFS) Director General, Indian Council of Cultural Relations Speaking on Yoga Day Celebrations

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on the journey of ISA so far, guiding principles, vision & priority areas & programmes for ISA.

Exclusive Interview to Diplomacyindia.com with Shri Upendra Tripathi, IAS Interim DG, International Solar Alliance (ISA) speaking on expanding rank of international solar alliance & opening the membership to the countries beyond tropics.

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H.E. Mr. Jozef Drofenik speaking on Bilateral Relations and Trade between India and Slovenia

Diplomacyindia.com Exclusive Interview with Ambassador of Slovenia to India, H. E. Mr. Jozef Drofenik speaking on Tourism in Slovenia

Pictures of Formal Launch of Website Diplomacyindia.com

Knowledge Partner

Exclusive Interview with Prime Minister of Guyana, H.E. Mr. Moses Veerasammy Nagamootoo during his recent visit to India.Highlights of the interview were Indian Cultural Connect, Vibrant Bilateral Ties and Cultural Connect and India’s Economic Prowess.

Video Message from Shri Prakash Javadekar, MoS (IC) for Forest, Environment & Climate Change on eve of Formal Launch of Website Diplomacyindia.com

Message from Gen. V K Singh, (Retd.) Hon’ble MoS, External Affairs to Diplomacyindia.com

WP Facebook Auto Publish Powered By : XYZScripts.com