Mains Paper 2: IR | Effect of policies & politics of developed & developing countries on India’s interests, Indian diaspora
From UPSC perspective, the following things are important:
Prelims level: Not Much
Mains level: Changing dynamics of US policies and its impact on India
The impending US sanctions
- The impending oil sanctions have been a U.S. tool to pressure Iran in the six months since Trump backed out of the 2015 nuclear deal between the Middle East nation.
- US argue that Iran didn’t do enough to constrain the Islamic Republic’s nuclear program or curb what the U.S. calls other “malign activity” in the region.
Waiver for controlling Global Oil Prices
- The US has agreed to let eight countries – including Japan, India and South Korea – keep buying Iranian oil after it re-imposes sanctions on the OPEC producer.
- While the Trump administration’s goal remains to choke off revenue to Iran’s economy, waivers are being granted in exchange for continued import cuts so as not to drive up oil prices.
- China – the leading importer of Iranian oil – is still in discussions with the U.S. on terms, but is among the eight.
- The other four countries that will get waivers weren’t identified.
- The waivers are only temporary, and the U.S. will expect countries that get them to keep cutting Iranian imports in the months ahead.
- The Trump administration has asked that those nations also cut other economic ties with the Persian Gulf state, such as by reducing trade in goods that aren’t covered by the sanctions.