After the US stepped back from the Iran Nuclear Deal, India is determined to save the Iran Nuclear Deal (JCPOA), given the strong India-Iran relations. After a meeting held between the Indian and the Iranian officials in New Delhi on Monday, the deputy foreign minister of Iran stated that India is resolved to maintain the Joint Comprehensive Plan of Action (JCPOA).
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Abbas Araqchi, the deputy foreign minister of Iran stated that in the wake of the US withdrawal from the Iran Nuclear Deal, the implications of it on Iran and India relations formed the baseline of the discussions held in New Delhi. As reported by PressTV, he further stated that Iran is one of the most reliable suppliers for Oil supplies to India and New Delhi wants to continue importing oil from Tehran despite the threats of US sanctions.
Araqchi further said that based on the nuclear accord, India must find ways to safeguard Iran’s interests. India has been in a spot of bother as it now needs to make a choice between the US and Iran.
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The Trump Administration in may pulled out of from the 2015 Iran Nuclear Deal and then decided to impose sanctions on Iran yet again. These sanctions will come into effect from August. The sanctions will prohibit other nations to purchase crude oil from Iran. Countries will also not be allowed to invest in oil sector projects in Iran. The US has asked all the importers of oil from Iran to stop purchasing oil from by Iran by November failing which the importers will be subject to the same sanctions as Iran.
The US has put immense pressure on Saudi Arabia and some other nations in OPEC to increase their oil productions. This is being done to cushion the market shocks which come into effect once the US comes down at Iran with heavy sanctions.
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