• Tuesday, April 16, 2024

Business

US Iran Sanctions Resolve Faces Test From Crude Oil Thirsty China, India

The strategy is meant to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions, but this time, its ballistic missile program and its influence in Syria (Photo: STR/AFP/Getty Images).

By: Radhakrishna N S

Shortly after the US president Donald Trump announced in May he would reimpose sanctions on Iran, the State Department began telling countries around the world the clock was ticking for them to cut oil purchases from the Islamic Republic to zero. The strategy is meant to cripple Iran’s oil-dependent economy and force Tehran to quash not only its nuclear ambitions, but this time, its ballistic missile program and its influence in Syria. With just days to go before renewed sanctions take effect on November 5, the reality is setting in: three of Iran’s top five customers, India, China, and Turkey…

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