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Iran oil and India's S-400 deal with Russia are likely to dominate the discussions when US Secretary of State Mike Pompeo visits next week.
Donald Trump officially launches 2020 re-election campaign and upcoming Xi-Trump G20 meet makes stock markets rally.
Fingers will be pointed at Iran as the mastermind behind these events. But the potential benefits to the Gulf nation are outweighed by the risks.
India, the second largest buyer of Iranian oil, halted imports from the country this month after a US deadline against continued crude trade kicked in.
The worry on which the world should focus is not a deliberate and overt Iranian attack, but a miscalculation that could spiral into war.
OPEC’s unity will be tested as Saudi Arabia moves to increase crude oil production, and, in the process, take away Iran’s customers.
US Commerce Secretary Wilbur Ross, on a visit to New Delhi, said trade between the two countries is affected by a plethora of tariff and non-tariff barriers.
There are a number of strategic reasons why India wants to continue buying Iranian oil in spite of other options available.
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Congress also alleged that PM Modi has directed all oil companies not to increase the fuel prices till 23 May so that he can garner votes.
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