US Iran Sanctions Put Indian Rice And Pharma Exports At Risk
· World · Indian Express, Times of India
The United States has launched a sweeping new campaign to economically isolate Iran, warning foreign companies and countries of sanctions and loss of access to the US financial system if they continue doing business with Tehran. Treasury Secretary Scott Bessent described the offensive as an unprecedented financial campaign against an adversary. The move threatens to disrupt Indian exports, particularly rice, tea, and pharmaceuticals. India-Iran bilateral trade previously collapsed after Washington ended sanctions waivers for Iranian crude in 2019, falling 72 percent from $17.03 billion in fiscal year 2018-19 to $4.77 billion in fiscal year 2019-20. Total bilateral trade further declined to $1.63 billion in fiscal year 2025-26, with exports now comprising over 90 percent of the total trade volume and restricted mostly to humanitarian-exempted goods.
Why it matters
The US sanctions threat places Indian agricultural and pharmaceutical exporters at risk of losing financial access, compounding the sharp contraction in bilateral trade seen since 2019.
Read the original report — Indian Express
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