Introduction
The United States' decision to grant a 60-day sanctions waiver allowing the production, delivery and sale of Iranian oil has opened a fresh chapter in global energy diplomacy and could offer indirect economic benefits to India, one of the world's largest crude importers.
The waiver follows negotiations held in Switzerland between a US delegation led by Vice President JD Vance and an Iranian team headed by Parliament Speaker Mohammad Bagher Ghalibaf. The temporary licence, valid until August 21, permits limited Iranian oil-related activities.