
By Jubin Katiraie
US sanctions on Iran have caused major Iranian oil buyer India to switch to exports from Venezuela and America, despite a long-term trade relationship with Iran.
Iran has previously accounted for roughly 17% of India’s total crude imports, worth $11.1 billion between 2017-2018, because of India’s rising energy consumption and falling domestic oil output. But this fluctuated greatly depending on US-Iran relations.


