India's Iran exports set to fall further due to Dubai halt, US sanctions
NEW DELHI: Planned new U.S. sanctions on Iran and the UAE’s halt on Tehran trade could severely disrupt Indian exports of rice, tea and pharmaceuticals to Iran, which have been largely routed through Dubai’s port in recent years, Indian exporters said on Monday. India has been among Iran’s five largest trading partners, though bilateral trade has fallen by more than 90% from its 2018/19 highs of…
India and Iran's trade outlook dim further as Dubai port halt and US sanctions loom, Indian exporters warn. Rice, tea and pharmaceuticals, once routed through Dubai, now face disrupted payments and higher costs, threatening India's $383.11 million in rice exports to Iran last year. Trump's "economic D-Day" plan may exacerbate the situation, with traders exploring banking alternatives in Turkey. UAE's trade freeze signals a looming headache for Indian exporters, who must now navigate potential shipping and payment hurdles.
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