 "India stands to lose 3,00,000 bpd of crude oil supply from Iran, and 4,00,000 bpd from Venezuela")
Iran’s president Hassan Rouhani announced on May 8 that Iran would not perform some of its obligations under the nuclear deal or Joint Comprehensive Action Plan (JCPOA) for 60 days. This is not withdrawal from the agreement. It is a temporary measure within the scope of nuclear accord, and can be reversed if EU provides sanctions relief. As Rouhani said: "This surgery is for saving the deal, not destroying it". Rouhani’s speech came one year after US President Donald Trump’s decision to withdraw from the nuclear deal. The US administration has taken three measures recently to ratchet up pressure on
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