NIFTY 50

US sanctions against Iran could do a lot of damage, says Vandana Hari

Updated : May 09, 2018 10:23 AM IST

US sanctions against Iran could do a lot of damage, said Vandana Hari of Vanda Insights, adding that they could actually prevent companies and governments in other countries to not do business with Iran.

President Donald Trump on Tuesday said he was reimposing economic sanctions on Iran and pulling the United States out of an international agreement aimed at stopping Tehran from obtaining a nuclear bomb.

Speaking on crude market, Hari said, “The bigger question for oil market is now going to be what is the scenario over the next three-six months or even a longer-term."

“Asian buyers have already been hit in a big way and if you talk about India, the cost has gone up. There could be other impacts in terms of the US pressuring Indian oil companies and refiners through the government to reduce imports from Iran," she added.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV