India Turns To Iranian Oil For Economic Relief
Mired in one of its most serious economic crises since the turn of the century, India is considering a plan to cut its widening current account deficit by increasing crude oil imports from Iran, despite mounting pressure from the US to continue with reductions it has made thus far.
The Indian rupee has depreciated by more than 20% against the US dollar this year, hitting a record low of $1=IR67.6 on 3 September,...