• Source:JND
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US-Iran Oil Sanctions: On a day when the US and Iran held crucial talks in Muscat, Oman, aiming at de-escalating soaring tensions, the US imposed fresh sanctions on Tehran's oil exports. US State Department spokesman Tommy Pigott said America has sanctioned 15 entities, 14 shadow fleet vessels connected to the illicit trade in Iranian petroleum, petroleum products and petrochemical products. The fresh sanctions on Iranian oil surprised many as Iran termed the talks with US officials a 'good start' on Friday.

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Iran's top diplomat said the nuclear talks with the US were off to a good start and set to continue, signalling a positive outcome from the meeting. But, again, the Trump administration resorted to an aggressive strategy by imposing fresh sanctions amid diplomatic efforts to avoid armed conflict in the Middle East.

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Will India Be Affected By The Fresh Sanction On Iranian Oil?

The fresh US sanctions on Iran's oil exports could have some indirect effects on India, but the direct impact appears very limited in the short term. As the world's third-largest crude oil importer, India is highly vulnerable to instability in the Gulf, from where it sources nearly two-thirds of its oil needs. A war in the Middle East may affect the supply chain. In such a scenario, India is likely to be affected. According to the government data, India imported a crude oil shipment worth USD 111 million from Iran in June 2025. In 2008, India halted imports from Iran, following the US sanctions on Tehran. The escalating tensions between Iran and the US looms threat over the Strait of Hormuz, a narrow but critical maritime chokepoint through which nearly one-fifth of global oil supply passes. The tension between America and Iran has a peripherical effects, and India cannot stand unaffected.

Crude Oil Futures Gain Over 1 Per Cent On Firm Demand

Meanwhile, crude oil prices rose more than 1 per cent to Rs 5,825 per barrel in futures trade on Friday as traders built up fresh positions tracking firm spot demand amid strong global cues. On the Multi Commodity Exchange (MCX), crude oil for February delivery increased by Rs 75, or 1.31 per cent, to Rs 5,821 per barrel in a business turnover of 12,180 lots. Similarly, the March contract traded higher by Rs 88, or 1.53 per cent, at Rs 5,825 per barrel in 560 lots.

(With agencies inputs)


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