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The economic sanctions has put pressure on crude oil by increasing the demand and putting supply shortage.
This has spurred the crude oil price in the international market. There are several reasons for US asking India to stop importing oil from Iran and other countries from importing oil from Iran.
The Iranian economy heavily depends on oil exports.
The sanction on Iran economy adversely affected the enrichment program.
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The value of the Rial plunged since 2011, it is reported to have devalued up to 80%.
In October 2012, Iran began struggling to halt a decline in oil exports.
Currently, Indian economy depends on crude oil and natural gas.
Almost 70% of energy is generated from fossil fuels.