Foreign Policy Watch: India-Iran

Iran sanctions end: Cheaper oil, more trade opportunities for India

“We can sign commercial deals with Iran since payment is no longer an issue”.

  1. The lifting of the sanctions on Iran will benefit India with lower oil prices and more opportunities for trade.
  2. Iran will gradually ramp up production by 0.5 million barrels per day over the next six months.
  3. The lifting of sanctions also removes an important hurdle — U.S. pressure to hold off on the deal — in the proposed India-Iran gas pipeline
  4. India reportedly owes Iran $6.5 billion for crude oil purchases, the payment of which has so far been held up due to the sanctions.
  5. One of the major construction projects in Iran that India has taken an interest in is the development of the Chabahar Port.

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