US President Donald Trump ends Iran oil import waiver, India feels the pinch

A day after the United States of America announced its decision to not renew exemptions for five countries to continue importing oil from Iran, Mint’s Utpal Bhaskar explains the impact of the move on India. Driven by US’ aim to choke Iran’s main source of revenue, the move is expected to have a major fallout on the crude oil market. India and 7 other nations had been granted exemptions from US sanctions after the Trump administration decided to pull out of its 2015 deal with Iran. The exemptions are slated to end on May 2, 2019. Watch the full video to know more