Iran Sanctions Unclear: India Awaits US Clarity on Trade Rules, Tariffs

• US President Donald Trump's new sanctions on Iran lack clear rules, causing confusion for Indian government and businesses.
• Uncertainty exists whether food and humanitarian necessities are exempt from the new US sanctions and proposed 25% tariff.
• Indian rice traders are particularly affected, as rice is India's primary export to Iran, and they await clear guidelines.
• FIEO states Indian companies comply with OFAC sanctions, focusing on approved humanitarian trade like food and medicines.
• India's bilateral trade with Iran was $1.68 billion in FY24-25, with $1.24 billion in exports mainly from agriculture and pharma.

Why It Matters: India seeks urgent clarity from the US on new Iran sanctions, especially regarding humanitarian trade exemptions.