US SANCTIONS ON IRAN ……PROBLEMS FOR THE INDIA ARE INCREASED

US SANCTIONS ON IRAN ……PROBLEMS FOR THE INDIA ARE INCREASED

After nuclear test us put sanctions on the Iran that time India said India obey the rules of Orissa actions of United Nations UN and not of any particular Nation

Us has given exemption for 9 countries including India for purchasing petroleum products from Iran but us is not willing to extent that extension for this year

So India had to reduce it's oil dependency on Iran

After sanctions there are problems big financial transactions

We cannot get insurance cover for the tankers which are transporting petroleum products for oil from one place to other and needs insurance

Central Bank of Iraq cannot make any transaction with western countries

It's not just petroleum products USA said that after pulwama attack and  declareing Masood Azhar a terrorist

USA a supported India India will support USA for the sanctions impose on Iran

 India wants sophisticated equipments and weapons from USA and Russia

India also wants support in stabilizing Afghanistan for peaceful Southeast Asia

It's not just USA but many countries wants section to be imposed on Iran so India cannot go against many countries decision

There are some profit to

India can request to get support from USA in many other sectors supporting Iran sanctions

India is is biggest purchaser of of petroleum products from Iran so in this case there is a loss to India ultimately

Iran petrol prices are cheaper than  rest of the world

USA has maximum benefit out of the sanctions because USA cancel more petroleum products and oils in the market

USA market share in the global petroleum products are 3% only