US sanctions on Iran may impact Indian exports

With the new US sanctions against Iran set to that came into effect from 7th August, the fate of India’s rice and tea exports may now depend on the possible exemption of food and medicines from the sanctions and the agreement on oil imports reached between New Delhi and Tehran. “We are keen to study
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Mediterranean Shipping Company S.A. (MSC), like other major container shipping lines, has been taking bookings for Iran-related trade after the 2015 JCPOA (Iran nuclear deal) effectively lifted certain sanctions on Iran in exchange for limits to its nuclear programme. In consideration of the impending US withdrawal from the JCPOA and corresponding re-enlargement of its sanctions
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The United States has imposed a new wave of sanctions against North Korea’s regime targeting the country’s shipping sector, which has been linked to several sanction evasion schemes. Twenty-eight ships are being blacklisted in addition to 27 entities, and one individual, the U.S. Treasury Department said on Friday, February 23. “Today’s actions will significantly hinder
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