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The Government has imposed additional sanctions on Iran related to the latter's nuclear and missile development programme.
The notification issued by the Directorate General of Foreign Trade said the new amendments are to harmonise provisions of the Foreign Trade Policy with the United Nations Security Council (UNSC) Resolution 1929.
The Government had already prohibited direct or indirect export and import of all items, materials, equipment, goods and technology which could contribute to Iran's enrichment related, reprocessing or heavy water related activities, or towards the development of nuclear weapon delivery systems in Iran. In addition to this, the DGFT notification has added more items recently listed in IAEA and UN Security Council documents.
This move comes while India is trying to find a way to pay for Iranian oil imports after a long-standing payment mechanism was scrapped by New Delhi in December. India imports around 400,000 barrels per day (bpd) of oil from Iran. Iran is the second biggest supplier of crude oil to India after Saudi Arabia.
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