India's Iran oil plans in a quandary after Trump declares US-Iran ceasefire over
US President Donald Trump declared the US-Iran memorandum of understanding over, complicating India's plans to resume oil imports from Iran. This announcement follows India's refiners' recent exploration of crude oil imports, which are now uncertain due to the end of a sanctions waiver on Iranian energy. Shares of major Indian oil marketing companies fell 3-5% in response, contributing to a broader decline in the BSE Sensex, which dropped 1,677 points or 2.15%.