India can probably do without importing Iranian crude oil, the chairman of a Switzerland-based think tank told Times of India on Tuesday, but warned that the trade wars and tariffs are more worrisome for India’s economy. India—the world’s third-largest oil importer and the second-biggest oil customer of Iran—is unlikely to see a long-term impact on its oil import bill from the U.S. sanctions on Iran’s oil coming into force in less than two weeks, Frank-Jürgen Richter, chairman of independent think tank Horasis, told the Times of India . More worrying for India’s economy than the sanctions on Iran is the trade war and trade tariffs, although they are mostly aimed at China, Richter said. However, should trade wars lead to a global recession, India would be relatively isolated because its economy is not that integrated with the global economy as is China’s, he noted. India was expected to cut […]