The prospect of a phased-in lifting of Western sanctions against Iran raised by last week’s preliminary nuclear agreement with Tehran has created uncertainty over the fate of an oil-for-goods barter agreement involving rice, soymeal and other products. Iran has been India’s leading buyer of high-grade basmati rice and soymeal, which has partly been helped because of the barter deal. That deal evolved as a means for India to keep importing Iranian oil and pay for it in a way that would circumvent trade and financial restrictions on Tehran. “We will have to wait and see,” said Arun Kumar Sampath Kumar, an analyst with Frost & Sullivan. He said the situation could become clearer after June 30 once the details of the nuclear deal between Iran and six Western powers are worked out. If sanctions were lifted on Iran, it is likely to become easier for the nation to […]