Iranian oil crisis

Iranian oil crisis

Question: Consider the following statements regarding recent Iranian oil crisis:

  1. Iran is the third largest supplier of crude oil to India
  2. India and China are amongst 8 nations which got exemption from ban
  3. Iran is the second largest producer of petroleum oil in the world.

Choose the correct options of the following:
(a)1 and 2 only
(b)2 and 3 only
(c)1 and 3 only
(d)All of the above
Answer: (a)
Related facts:

  • India is one of the countries to receive temporary exemptions from U.S. sanctions on Iran that came into effect on 3rd Ban was imposed on Iran by America a few months back over the issue of Iranian Nuclear Deal which included permanent end of Iran’s nuclear weapons programme, stop enrichment and closing down its heavy water reactor. Iran has to also stop proliferating ballistic missiles, and end support to ‘terrorist’ groups.
  • Other countries which have got exemptions are China, India, Italy, Greece, Japan, Greece, South Korea, Taiwan and Turkey.





  • Iran is India’s third largest supplier of oil after Saudi Arabia and Iraq.
  • Iran is fifth in production of oil in world whereas US is leading the global production.

By Ramayan Upadhyay

Links:

https://www.thehindu.com/news/international/india-china-among-8-countries-allowed-to-buy-iranian-oil-mike-pompeo/article25429069.ece

https://www.livemint.com/Politics/eAFn6GFI164a4J9PJTXGwM/US-reimposes-all-Iran-sanctions-lifted-under-2015-nuclear-de.html

https://www.bbc.com/news/world-middle-east-33521655

https://en.wikipedia.org/wiki/List_of_countries_by_oil_production