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Iran nuclear deal
Why is it in news?
- Recently, new German Ambassador to India said that Germany will do everything to save the nuclear deal with Iran.
- Instability increased after the U.S. government ended waivers for oil purchase from Iran on May 2.
More in news
- Official position of Germany: His statement reflects the official position of Germany, which is working to prevent a conflict in the Persian Gulf and a consequent oil shock for nations like India.
- Tackling possible oil shock: Germany, along with other European Union members, supported India’s plans to counter a possible oil shock in case of increased volatility in the Persian Gulf.
- India’s stand: India was yet to decide on whether to continue buying Iranian crude. A decision is likely after the general election.
- Chancellor’s visit:
- The Iran issue is likely to figure during the visit of Chancellor Angela Merkel to India.
- She will be among the first visitors to the country after the end of the election.
Source
The Hindu