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India to irk US again! to buy Iranian Oil

crude oil

On the heels of New Delhi’s decision to buy Russian built S-400 air defense sytems, India is now actively considering buying Iranian oil supplies despite US objections. As per the report in ET  Indians may buy over 9 million barrels of crude from Tehran in November.

Failing in its plans to change regime in Syria, The United States plans to impose new sanctions targeting Iran’s oil sector on Nov. 4 t and bring Tehran to the negotiating table. In pursuit of its goals US withdrew from the Iran Nuclear deal and is now ready to impose unilateral sanction on any and all entities that engage in business with Iran. Without giving any evidence till date US president Trump said it had accused Iran to be the perpetrator and said that the deal had “failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb” and did not deal with Tehran’s “malign activities, including its ballistic missile programme and its support for terrorism”.

The other parties to the deal – the UK, France, Germany, China and Russia – have pledged to abide by their commitments. But many firms have pulled out of Iran. If India remains committed to its relationship with Iran it might attract the kind of attention from US that can put break in Indian economy. However a loud reaction from Washington can also help Indian PM to rally his voters towards a nationalistic defiance and victory in the next year’s general election.

 

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