Iran News and Discussions

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Iran News and Discussions

Postby Peregrine » 20 Sep 2018 20:06

X Posted on the Oil & Natural Gas: News & Discussion Thread

India set to pay for Iranian oil using rupee from November: Sources – Reuters

NEW DELHI: India will settle payments for Iranian oil using through local banks starting in November as will make it difficult to settle trades through European banks, two industry sources said on Thursday.

In May, US President Donald Trump withdrew from a 2015 nuclear accord with Iran and ordered the renewal of US sanctions. Some sanctions took effect from August 6 while those affecting the oil and banking sectors will start from November 4.

"We are bracing up for any eventuality we have to make a payment and we don't want to default on making payments," one of the sources said.

The sources said India has selected UCO Bank and IDBI Bank for facilitating payment to Iran.

Indian refiners are currently using State Bank of India and Germany-based Europaeisch-Iranische Handelsbank AG to buy Iranian oil in euros. SBI has told refiners it would stop handling Iran payments from November.

The second source said after the United States announced it would re-impose sanctions in May, Iran has already received payments for some cargoes in rupee.

Reuters in June reported that India is looking to revive the its earlier rupee payment mechanism with Iran. During the previous sanctions regime, India adopted a barter-like scheme to buy oil from Iran while the Middle Eastern country used rupees to import goods from India.

"Previously we settled 45 per cent of our trade in rupees this time it could be 100 per cent. We have to mutually decide the number," said the first source.

India, Iran's top oil client after China, is still seeking some exemptions to the sanctions from the US though some refiners have already curtailed purchases because of insurance issues tied to the sanctions.

IDBI did not respond to requests for a comment while UCO Bank's Managing Director R K Takkar did not respond to phone calls seeking comment

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Re: Iran News and Discussions

Postby Philip » 22 Sep 2018 19:58

The bloody attack on a mil. parade killing at least 24 has been blamed by Iran as the handiwork of the Saudis, US and Israel.An obscure outfit has claimed responsibility as well as ISIS,and we all know who the sponsors of ISIS are.

Having been thrown out of Syria by the Syro-Ru- Iranian triad, the west and Wahaabi Arabs look at mischief in Iran as the next plan for regional dominance.For long Israel has wanted to wage war against Iran and the US has been waging a non-stop covert war using the CIA to undermind the regime.

India's historic ties with Iran, our key oil supplier and part ner in the Chahbahar port project is in the crossfire of US sanction threats over our oil supplies and the port JV.Watch developments in Iran v.carefully.This attack is the first step in the covert war to overthrow the regime by the Sunni coalition and its western allies.

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Re: Iran News and Discussions

Postby ramana » 22 Sep 2018 20:36

Recall attack on Masood before 9/11. I think Paki hand is there.
Rouhani did not attend as he was ill.

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Re: Iran News and Discussions

Postby Philip » 23 Sep 2018 18:05

A Sadat style op.Could very well be an ISI hand in it to please their Soothi birthers and prove Captain Khan's credentials.....for a transfusion of riyals for his bankrupt
outfit. His stunt selling off the fancy state cars to augment fmpth coffers was a monumental flop. The Soothis always shoot from someone else' s shoulders or outsource the task.As a famous wit said, " they'll
fight to the last American!"

PS: And the Pakis will fight to the last Talibunny!

PPS: Capt.Khan has just invited the Soothis to join the Chin CPEC/OBOR bandwagon and replenish his empty coffers.The Pakis are desperate for hard cash as any IMF handout would come with crushing compliances thanks to Donny boy.It wants to avoid that by sh* gging the Soothis.
Ramana was spot on.It all adds up.This new unknown outfit that did the Iranian attack was an ISI op as desperate Pak is bankrupt and Capt. Khan has no money for his batsmen's ball- guards!

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Re: Iran News and Discussions

Postby A_Gupta » 25 Sep 2018 23:02

X-Post on India-US relations
https://www.bloomberg.com/news/articles ... nd=premium
India Is Cutting Imports of Iranian Oil to Zero in November
By Debjit Chakraborty
, Dhwani Pandya
, and Javier Blas
September 25, 2018, 12:43 PM EDT

Biggest Indian refiners haven’t asked for November oil cargoes

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Re: Iran News and Discussions

Postby Philip » 26 Sep 2018 11:50

Stupid panic-wallahs even before Trump acts! Spineless MEA why few take India seriously.

The EU, Russia, China and Iran have just agreed on the sidelines of the UNGA to form an SPV for trade with it , including oil exports, meanz of payments, etc., provided the cos. doing biz with these foreign nations do not violate the EU- Iran N-deal.This will by- pass US sanctions and the SPV will be available to other nations also.The EU is determined that the Iran N-deal which took decades to seal is not dumped by Iran if ghe US tries to cripple its economh through sanctikns.

All India has to do now is to join this bandwagon, but do we have the ghoolies for it, or will we yet again behave as impotent eunuchs whenever Uncle Sam farts! It is so clear that India is nowhere in the global top order when it comes to resolving international disputes.China is pro- active and even " Little Britain" punches above its weight.
India only talks but cannot walk the talk sadly even after the arrival of PM Modi.A thorough spring-cleaning is needed to waste the surrender-eating monkeys in the MEA whose ambition for India is merely to replace Pak as Uncle Sam's rent- boy in the region.

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Re: Iran News and Discussions

Postby ramana » 26 Sep 2018 19:38

Philip, Its not that simple.

India is getting its energy supplies from elsewhere.

Let them duke it out.

When you have no dog in the fight don't bark.

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Re: Iran News and Discussions

Postby ShyamSP » 26 Sep 2018 23:59

Philip wrote:Stupid panic-wallahs even before Trump acts! Spineless MEA why few take India seriously.

The EU, Russia, China and Iran have just agreed on the sidelines of the UNGA to form an SPV for trade with it , including oil exports, meanz of payments, etc., provided the cos. doing biz with these foreign nations do not violate the EU- Iran N-deal.This will by- pass US sanctions and the SPV will be available to other nations also.The EU is determined that the Iran N-deal which took decades to seal is not dumped by Iran if ghe US tries to cripple its economh through sanctikns.

All India has to do now is to join this bandwagon, but do we have the ghoolies for it, or will we yet again behave as impotent eunuchs whenever Uncle Sam farts! It is so clear that India is nowhere in the global top order when it comes to resolving international disputes.China is pro- active and even " Little Britain" punches above its weight.
India only talks but cannot walk the talk sadly even after the arrival of PM Modi.A thorough spring-cleaning is needed to waste the surrender-eating monkeys in the MEA whose ambition for India is merely to replace Pak as Uncle Sam's rent- boy in the region.


India is acting as wimp in strategic areas with respect to resources needed for the country. It might have gotten deal from US to deal with China if it goes along with it on Iran. Iran is permanent thorn to full control of resources for US state. They tried with Obama via friendly policies may be without much expected results of Iran yielding. Now they are trying newer tactics with the so-called rebel who is projected as loose canon for US deep state. Ultimately goal of the west (US, EU & co) has been to continue to keep world in control by reducing alternative economic sphere (Russia, Iran & co) to untenable position. After all these tactics if China capitulates a little bit, India will be distanced in the game with loss of existing leverage on Iran.

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Re: Iran News and Discussions

Postby Parasu » 27 Sep 2018 11:40

Philip wrote:Stupid panic-wallahs even before Trump acts! Spineless MEA why few take India seriously.

The EU, Russia, China and Iran have just agreed on the sidelines of the UNGA to form an SPV for trade with it , including oil exports, meanz of payments, etc., provided the cos. doing biz with these foreign nations do not violate the EU- Iran N-deal.This will by- pass US sanctions and the SPV will be available to other nations also.The EU is determined that the Iran N-deal which took decades to seal is not dumped by Iran if ghe US tries to cripple its economh through sanctikns.

All India has to do now is to join this bandwagon, but do we have the ghoolies for it, or will we yet again behave as impotent eunuchs whenever Uncle Sam farts! It is so clear that India is nowhere in the global top order when it comes to resolving international disputes.China is pro- active and even " Little Britain" punches above its weight.
India only talks but cannot walk the talk sadly even after the arrival of PM Modi.A thorough spring-cleaning is needed to waste the surrender-eating monkeys in the MEA whose ambition for India is merely to replace Pak as Uncle Sam's rent- boy in the region.


Indian aim is and should be to do good for its people. Economic and social welfare of the country is written into the constitution. 25% of the people live below poverty line in the country. Doing chest thumping by MEA wont get bread for these people. Getting close to the Soviet Union didnot get us 7-8% economic growth. Capitalism and investment from US/West did.
According to roos lovers, we must go around lecturing everyone on correctness and impropriety rather than seeking out our own interests. If China has an economy 6 times that of India today and it can stand up to the US, it is because of the US and western investments in the country for the last 30 years.
If H&D is so important than we should say f@ck you to the UN security council in toto. After all, it is discriminatory in nature too. Let us go the North Korea way. At least, we will keep our H&D intact.

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Re: Iran News and Discussions

Postby Lisa » 27 Sep 2018 23:17

Philip wrote:Stupid panic-wallahs even before Trump acts! Spineless MEA why few take India seriously.

The EU, Russia, China and Iran have just agreed on the sidelines of the UNGA to form an SPV for trade with it , including oil exports, meanz of payments, etc., provided the cos. doing biz with these foreign nations do not violate the EU- Iran N-deal.This will by- pass US sanctions and the SPV will be available to other nations also.The EU is determined that the Iran N-deal which took decades to seal is not dumped by Iran if ghe US tries to cripple its economh through sanctikns.

All India has to do now is to join this bandwagon, but do we have the ghoolies for it, or will we yet again behave as impotent eunuchs whenever Uncle Sam farts! It is so clear that India is nowhere in the global top order when it comes to resolving international disputes.China is pro- active and even " Little Britain" punches above its weight.
India only talks but cannot walk the talk sadly even after the arrival of PM Modi.A thorough spring-cleaning is needed to waste the surrender-eating monkeys in the MEA whose ambition for India is merely to replace Pak as Uncle Sam's rent- boy in the region.


Philipji,

I am missing something in your argument. Please help me.

India's trade with USA = $74.3 Billion

India Diaspora in the US = 4,121,944

VS

India's trade with Iran = $13.13 Billion

India Diaspora in Iran = 800

References are,

https://en.wikipedia.org/wiki/List_of_t ... s_of_India

https://en.wikipedia.org/wiki/Non-resid ... ian_origin

Why would India want to antagonise the US to accommodate Iran. Where do her real interests lie after considering the above? Help me with an opinion.

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Re: Iran News and Discussions

Postby uddu » 27 Sep 2018 23:29

You guys are pretty silly fighting as if Iranians and U.S are enemies. Iran wants U.S Dollars and always insisted on U.S dollars for payment for oil. They never considered our Rupee and said let the Satan's dollar go to hell, we will get INR and buy stuff from India. Never. So we are weighing in option and find that it's not prudent to do business with Iran using USD and hence waiting for them to make arrangement for accepting INR. Once that's done, i think we will go ahead and import Iranian oil. Until then it's not worth it.

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Re: Iran News and Discussions

Postby habal » 29 Sep 2018 10:11

Reason why India is reluctant in closing down its market from Iran is:

-It provides Oil at low rates
-Lowest transportation cost,
-60 day credit purchase (no other country provides) and
-Acess to Afganistan via Chabahar Port
https://twitter.com/IndianDefenceRA/sta ... 6426773509

https://twitter.com/jkenney/status/1042832893985214464
India needs oil to fuel their rapidly growing economy.
Image

Daily oil consumption per capita

India: 0.4 liter
China: 1 liter
Russia: 3 liters
UK: 4 liters
Japan: 6 liters
US: 10 liters
Saudi Arabia: 16 liters

India’s 1.3 billion people want more oil.
Image
India’s Crude Oil Demand To Hit 500 Million Tonnes By 2040

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Re: Iran News and Discussions

Postby Philip » 04 Oct 2018 08:53

Stunning ICJ verdict."The US must lift sanctions against Iran regarding humanitarian goods duch as .edicines and med. devices, food,and agri. commodities", said rhe chief judge of the UN's top court.The US will of course ignore it but it will encourage other nations to ignore the US's sanction diktat against Iran.

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Re: Iran News and Discussions

Postby Kashi » 04 Oct 2018 09:05

uddu wrote:You guys are pretty silly fighting as if Iranians and U.S are enemies. Iran wants U.S Dollars and always insisted on U.S dollars for payment for oil. They never considered our Rupee and said let the Satan's dollar go to hell, we will get INR and buy stuff from India.


Didn't a few recent reports say that India was paying for Iranian oil in Euros.

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Re: Iran News and Discussions

Postby Rony » 04 Oct 2018 09:06

Iranian clerics in Kashmir under watch

The Centre has red-flagged the visit of Iranian clerics to Jammu and Kashmir amid reports of fiery speeches being given by them at congregations and mosques.

The immediate trigger seems to be the posters of Hizbul Mujahideen “commander” Burhan Wani that surfaced during a Muharram procession in Kashmir last month.

Hizbul is a Sunni militant group.

Muharram is a month in the Islamic calendar and it is a period of mourning for Shia Muslims.

Imran Ansari, Peoples Democratic Party (PDP) legislator from Pattan in north Kashmir, said that two men associated with the Hurriyat Conference flashed the banners of Wani at the procession.

“This should not have happened. We were mourning Imam Hussain … this is the first time that such a thing happened. Wani’s posters appeared as there were attempts to politicise the mourning. That is not the mandate,” Mr. Ansari said.

Visit regularly

He also said that though clerics from Iran regularly visited Kashmir Valley, no cleric gave any fiery speech during Muharram.

J&K Governor Satya Pal Mallik had earlier told The Hindu that inquiries were on about the visit of the Iranian maulvis.

Mr. Ansari explained that the Iranian clergy had a permanent office in Delhi, Daftar-e-Rahbari, that is under their direct supervision. “They have schools in Kashmir and Kargil … the Iranian clerics do come. But this Muharram no one came … the posters of Burhan Wani were flashed in one of the daayras (rally). There were 48 others,” he said.

A senior government official said they were watching the speeches being given by religious leaders including those by Shia leaders. “Since they come here for religious sermons, they are easily given visas. We are checking if they violated visa provisions,” the official said.



Iranian threat via Tehran times in response to the above Chindu report

Meanwhile, the news has drawn anger and outrage among Kashmir’s Shia community and clergy, who see it as part of a larger design to intimidate people.

“Iranian clerics come here on invitations and they give speeches but not “fiery speeches”,” said a young cleric based in Kashmir, wishing anonymity. “It is nothing but an intimidating tactic to bully us, but it won’t work. They have already banned our processions in main city, now they cannot stop our clerics from giving sermons.”

Pertinently, in Srinagar, the capital of Kashmir, the government’s ban on Muharram processions (Muharram 8 and 10) is in place since 1990, when the armed rebellion against Indian rule gathered momentum. Despite repeated pleas by Shia leaders, the ban has not been lifted.

Each year, police impose curfew-like restrictions on Muharram 8 and 10 in parts of Srinagar city, including Lal Chowk, the nerve-center of Srinagar. Iron barricades and spools of concertina wires are put up at every entry point. The fully-armed police personnel do not even allow pedestrian movement as tough restrictions are enforced.

However, as a mark of protest against the ban, mourners take out peaceful mourning procession in the main city every year. Each time, they are intercepted by massive contingents of heavily-armed police and paramilitary personnel. They fire tear smoke canisters, resort to baton charge and brutally manhandle the mourners participating in these processions
.

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Re: Iran News and Discussions

Postby Rony » 04 Oct 2018 09:13

double post. delete
Last edited by Rony on 04 Oct 2018 09:24, edited 1 time in total.

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Re: Iran News and Discussions

Postby Rony » 04 Oct 2018 09:23

France points finger at Iran over bomb plot, seizes assets

France said on Tuesday there was no doubt Iran's intelligence ministry was behind a June plot to attack an exiled opposition group's rally outside Paris and it seized assets belonging to Tehran's intelligence services and two Iranian nationals.

The hardening of relations between Paris and Tehran could have far-reaching consequences for Iran as President Hassan Rouhani's government looks to European capitals to salvage a 2015 nuclear deal after the United States pulled out and reimposed tough sanctions on Iran
.
The source, speaking after the government announced asset freezes, added that the deputy minister and director general of intelligence, Saeid Hashemi Moghadam, had ordered the attack and Assadollah Asadi, a Vienna-based diplomat held by German authorities, had put it into action.

The ministry is under control of Supreme Leader Ayatollah Ali Khamenei
.
The plot targeted a meeting of the Paris-based National Council of Resistance of Iran (NCRI) outside the French capital. U.S. President Donald Trump's lawyer Rudy Giuliani and several former European and Arab ministers attended the rally
.

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Re: Iran News and Discussions

Postby Rony » 04 Oct 2018 09:23

delete

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Re: Iran News and Discussions

Postby habal » 07 Oct 2018 09:31

US considering waivers on Iran oil sanctions: US official
https://www.presstv.com/Detail/2018/10/ ... sanctions-

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Re: Iran News and Discussions

Postby Philip » 02 Nov 2018 18:05

4 days to go before Trump unleashes his threat of a naval blockade of Iran and prevention of any Iranian oil exports.Russia, China and India have warned of military measures to protect their shipping. Iran has threatened to prevent any oil from transiting thd Gulf. 4 days to hell?

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Re: Iran News and Discussions

Postby komal » 02 Nov 2018 18:58

News reports say that the USA has granted waivers to all of Iran's largest oil buyers (inlcuding India)

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Re: Iran News and Discussions

Postby g.sarkar » 03 Nov 2018 05:33

https://www.goodreturns.in/news/2018/11 ... client-rss
US To Waive Iranian Sanctions On Oil For 8 Nations Including India
By Olga Robert, Friday, November 2, 2018.
The US has agreed to let eight countries including India and Japan to continue buying oil from Iran after the reimposed sanctions on the oil producer kick-in next week, as per a Bloomberg report citing sources that do not wish to be identified. The other two countries that were named in the report were China and South Korea, however, the terms of the waiver for the former is still in discussions, it said.
.....
Gautam
PS: 8 countries mean the oil sanctions will not be meaningful.

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Iran News and Discussions

Postby Peregrine » 06 Dec 2018 23:17

India inks pact with Iran to pay crude bill in rupee

NEW DELHI: India has signed an agreement with Iran to pay for crude oil it imports from the Persian Gulf nation in rupees, sources in know of the development said.

The memorandum of understanding (MoU) was signed following the US letting India and seven other nations to keep buying Iranian oil despite sanctions were re-imposed on the Islamic state on November 5.

Sources said Indian refiners will make rupee payments in a UCO Bank account of the National Iranian Oil Co (NIOC).

Half of these funds would be earmarked for settling payments for exports of Indian goods to Iran, they added.

Under US sanctions, India can export food grains, medicines and medical devices to Iran.

India had won the exemption after it agreed to cut imports and escrow payments.

Under the 180-day exemption, India is allowed to import a maximum of 300,000 barrels a day of crude oil. This compares to an average daily import of about 560,000 barrels this year.

India, which is the second biggest purchaser of Iranian oil after China, has since then restricted its monthly purchase to 1.25 million tonne or 15 million tonne in a year (300,000 barrels per day), down from 22.6 million tonne (452,000 barrels per day) bought in 2017-18 financial year,[/b] sources said.

Two of its refiners -- Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) -- bought 1.25 million tonne of oil from Iran in November and December.

India, the world's third biggest oil consumer, meets more than 80 per cent of its oil needs through imports. Iran is its third largest supplier after Iraq and Saudi Arabia and meets about 10 per cent of total needs.

US President Donald Trump in May withdrew from the 2015 nuclear accord with Iran, re-imposing economic sanctions on the Persian Gulf nation. Some sanctions took effect from August 6, while those affecting the oil and banking sectors will start from November 5.

Prior to this, India paid its third largest oil supplier in euros using European banking channels. These channels got blocked from November.

During the first round of sanctions when EU joined the US in imposing financial restrictions, India initially used a Turkish bank to pay Iran for the oil it bought. Beginning February 2013, India paid 45 per cent of the oil import bill in rupees while keeping the remainder pending till the opening of payment routes. It began clearing the dues in 2015 when the restrictions were eased.

Sources said New Delhi may export goods, including wheat, soybean meal and consumer products, to Iran during the exemption period.

Iran was the India's second biggest supplier of crude oil after Saudi Arabia till 2010-11 but Western sanctions over the Persian Gulf nation's suspected nuclear programme relegated it to the seventh spot in the subsequent years. In 2013-14 and 2014-15, India bought 11 million tonne and 10.95 million tonne crude, respectively from Iran.

Sourcing from Iran increased to 12.7 million tonne in 2015-16, giving it the sixth spot. In the following year, the Iranian supplies jumped to 27.2 million tonne to catapult it to the third spot.

Iranian oil is a lucrative buy for refiners as the Persian Gulf nation provides 60 days of credit for purchases, terms not available from suppliers of substitute crudes -- Saudi Arabia, Kuwait, Iraq, Nigeria and the US.

Besides blocking of banking channels from November, shipping firms are unwilling to transport Iranian oil. To get around this, Iran is using its own ships to transport crude to India. Its insurance companies are also providing insurance cover for such shipments, sources added.

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