US Imposes Tariffs on Iran Partners
Analysis based on 6 articles · First reported Jan 13, 2026 · Last updated Jan 13, 2026
The new 25% US tariffs on countries trading with Iran are expected to have a minimal direct impact on India's overall trade due to its already limited engagement with Iran. However, companies like KRBL Limited, which previously had significant basmati rice exports to Iran, will likely face further business restrictions and potential declines.
US President Donald Trump announced a 25% tariff on all business dealings between the United States and any country that continues to trade with Iran. This measure is effective immediately and aims to further pressure Iran economically. While countries like the United Arab Emirates, China, and Turkey are major import partners for Iran, India's trade and economic engagement with Iran is relatively limited, accounting for only 0.15% of India's total trade. Government sources in India anticipate a minimal impact on India's overall trade, though specific sectors like basmati rice exports, as highlighted by KRBL Limited, have already been significantly affected by previous sanctions and may see further declines. The Federation of Indian Export Organisations stated that Indian industry and banks only deal with Iran on goods outside the scope of US OFAC sanctions.
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