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The drastic and sudden drop in Venezuelan and Iranian oil exports to India in 2019-2020, due to the looming threat of US secondary sanctions, is the latest supply chain disruption to India’s energy security. To avoid similar disruptions in the future, India must act decisively to increase its Strategic Petroleum Reserves to meet at least 90 days of emergency oil stocks, and combine lobbying efforts between India’s private and public oil compa
Sanctions, a mechanism to penalise international legal violations, usually prohibit nationals of the “sanctioning country” from engaging in specified activities with the “targeted country.” Secondary or extraterritorial sanctions, on the other hand, penalise third-country individuals and companies for dealing with sanctioned countries. Recent measures adopted by the US—the enactment of the Countering America’s Adversaries Through Sanc
