Developments in Iran: Possible US actionLike several other countries, India has been closely watching the developments in Iran. On January 9, 2026 Iran’s Supreme leader Seyyed Ali Hosseini Khamenei categorically stated that the protesters were propped up by the US. India also exports Basmati to Iran (Iran is the second largest exporter of Indian Basmati after Saudi Arabia). Like other countries, Iran has also begun to move towards trade in local currencies.A significant percentage of Russia-Iran trade (80%) is carried out in local currencies. ConclusionIn conclusion, the current protests in Iran are unprecedented and could lead to some decisive changes in Iran and the reverberations of these would extend beyond the region.

Source: dna January 13, 2026 04:46 UTC