U.S. sanctions on Iran could boost oil prices and inflation to a point that hurt...
WASHINGTON - U.S. sanctions on Iran could boost oil prices and inflation to a point that hurts the common person in India, the country’s ambassador to the United States said on Tuesday, after the Trump administration said it would end waivers for Iran’s oil buyers.
“We are apprehensive that impact can translate into inflation, higher oil prices,” that could affect the common person in India, Shringla said. The Trump administration surprised Iran’s oil customers, including India, China and Turkey, last week by saying no waivers on the sanctions would be granted after May 1, ending six months of exceptions to the sanctions for reductions in purchases.
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