US 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.
President Donald Trump’s efforts to sink Iran’s oil exports to zero will have a direct impact on India, the largest buyer of the oil after China, Harsh Vardhan Shringla, the ambassador, said at a Carnegie Endowment event.
“We are apprehensive that that impact can translate into inflation, (and) higher oil prices,” that could affect the common person in India, Shringla said.
