What Lifting Sanctions on Iran Means for India

January 18, 2016 12:46 PM

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The deal will likely nudge up crude oil supplies from Tehran but have an adverse impact on India’s farm commodities, experts and industry officials say, as Iran now has a wider market in which to shop.

India adopted a rupee-based payment mechanism with Iran to skirt Western sanctions that prohibited purchases from Iran made in dollars.

Also read: North Korea Nuclear Tests: Pyongyang Says UN Sanctions Will Not Affect Launches

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