US pulling out of Iran deal and impact on India

US pulling out of Iran deal and impact on India

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New Delhi, May 9, 2018: President Donald Trump pulling out of the Iran nuclear deal and announcing his decision to re-impose sanctions on the key crude oil producer would exert pressure on the fuel prices and affect the Indian economy on the downside.

While there are other imponderables like Saudi Arabia trying to increase crude output along with major OPEC producers and the US allies like France not being on board, the global economy does face bouts of uncertainty and volatility. In the short term, it is not a good news for the Indian economy which meets bulk of its crude oil requirements from imports, ASSOCHAM Secretary General, Mr D S Rawat said today.

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