President Donald Trump withdrew from the landmark Iran nuclear deal in May following months of speculation. Formally titled the “Joint Comprehensive Plan of Action” (JCOPA), Multilateral accord was aimed at limiting Tehran’s disputed nuclear program in exchange for relief from international sanctions targeting Iran’s lucrative oil trade with countries like India.
Shortly after the agreement was announced in July 2015, Indian officials characterized it as the “best deal available” at the time. New Delhi seized on the opportunity to repair its economic and commercial relations with Tehran, which had suffered under the longstanding sanctions regime. With new sanctions set to take effect in November, what does President Trump’s withdrawal from JCOPA mean for India and Indian companies conducting business with Iran?