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India Joins U.S. Effort to Stifle Iran Trade

Iran realized what was going on, and tried to make a smart move
by issuing those statements on Kashmir,


oh god, that was only a "smart move" because some pakistani's are so dumb.

you honestly think iran are sincere about kashmir?

if there was no us factor and india/iran trade was booming do you think iran would care about kashmir?

have you seen iran rushing to pakistan to fill the void left by india with trade?

iranians, even the most secular and non-islamic know what strings to pull, and what cards to play with the islamic world, let their actions speak louder than words, if they really want to support kasmir they need to do more than a single statement to people who hardly matter.


if iran are desperate and isolated they need to look to their neighbors, pakistan is one of them but it hardly feels like that these days.
 
There you go, it seems the problem has been resolved :coffee:

Iran says payments impasse with India resolved: Report


Iran said an Friday that an oil payments dispute with India had been resolved by changing the currency of settlement, according to the country's semi-official Fars news agency
.

Central bank officials from Iran and India, keen to balance its energy needs with global diplomatic interests, were meeting in Mumbai in an effort to keep their oil trade running.

"By changing the currency for oil transaction between Iran and India the problem was solved,"
deputy oil minister Ahmad Khaledi was quoted as saying by Fars news agency.

A spokesperson with the Reserve Bank of India did not have immediate comment.

Indian officials and traders were hopeful of a quick resolution to the payments row that could disrupt about 13% of its oil imports and leave refiners scrambling for expensive alternative sources of crude.

The Reserve Bank of India (RBI) said last week that oil trade payments to Iran could no longer be settled using a long-standing clearinghouse system run by regional centralbanks, and Tehran has refused to sell oil outside the oldset-up. This week the RBI extended the move to apply to allcurrent account transactions.

"We are extremely hopeful that this impasse will be resolved shortly as Indian companies every week get crude supplies from Iran," B Mukherjee, head of finance at state-run Hindustan Petroleum Corp, said earlier.

Other importers of Iranian crude include state-run Indian Oil Corp and Mangalore Refinery and Petrochemicals Ltd and privately-run Essar Oil.

The White House, which wants governments to stop dealingwith Iran because of its nuclear programme, has praised the move, which came less than two months after President Barack Obama's trip to India, where he pledged to help boost New Delhi's global role.

UN sanctions on Iran do not cover oil sales.

India and Iran could agree to settle deals in Iran's rialor another currency such as the Japanese yen, Indian oil secretary S Sundareshan suggested on Thursday.

South Korea pays for Iranian crude using the won.

Payments could also be routed through a third-countrycentral or commercial bank.

An economy growing at about 9% a year has made India the world's fourth-largest importer of crude.
Iran is its second largest supplier after Saudi Arabia.

Indian oil importers get 90 days credit for payment so they are covered for old transactions, but future shipments would be in jeopardy if the matter had not been resolved.

India buys about 400,000 barrels per day of Iranian crude, sending roughly $12 billion a year to Tehran via the Asian Clearing Union, a system created in the 1970s by central banks in South Asia and Iran to clear trade payments between them.

Critics say the scheme is opaque to the monitoring of flows into Iranian organisations against which the United States has sanctions, as settlements are made on a net basis every two months.

Suspending Iranian imports when global crude prices are at near two-year highs and when Indian inflation is uncomfortably high would be costly for India.

India and Iran have long-standing ties but analysts say irritants and a new strategic thinking are prompting New Delhi to adopt a more nuanced and assertive policy.

New Delhi's interests are increasingly tied with the United States, and it is also mindful of Arab concerns over Iran's nuclear ambitions.

"When it comes to Iran, India can ignore pressure from the US and noises from Israel, but it cannot ignore concernsfrom the Arab countries," said PR Kumaraswamy, head of West Asian studies at New Delhi's Jawaharlal Nehru University.

"In a very subtle way, India is sending a message that its closeness with Iran will not affect relations with other West Asian countries."
 
Obviously, you misunderstood the US interest !

IF you didn't understand what I said,
you could have requested and I would have explained.

Here is ur answer..:azn:
There you go, it seems the problem has been resolved :coffee:

Iran says payments impasse with India resolved: Report


Iran said an Friday that an oil payments dispute with India had been resolved by changing the currency of settlement, according to the country's semi-official Fars news agency
.

Central bank officials from Iran and India, keen to balance its energy needs with global diplomatic interests, were meeting in Mumbai in an effort to keep their oil trade running.

"By changing the currency for oil transaction between Iran and India the problem was solved,"
deputy oil minister Ahmad Khaledi was quoted as saying by Fars news agency.

A spokesperson with the Reserve Bank of India did not have immediate comment.

Indian officials and traders were hopeful of a quick resolution to the payments row that could disrupt about 13% of its oil imports and leave refiners scrambling for expensive alternative sources of crude.

The Reserve Bank of India (RBI) said last week that oil trade payments to Iran could no longer be settled using a long-standing clearinghouse system run by regional centralbanks, and Tehran has refused to sell oil outside the oldset-up. This week the RBI extended the move to apply to allcurrent account transactions.

"We are extremely hopeful that this impasse will be resolved shortly as Indian companies every week get crude supplies from Iran," B Mukherjee, head of finance at state-run Hindustan Petroleum Corp, said earlier.

Other importers of Iranian crude include state-run Indian Oil Corp and Mangalore Refinery and Petrochemicals Ltd and privately-run Essar Oil.

The White House, which wants governments to stop dealingwith Iran because of its nuclear programme, has praised the move, which came less than two months after President Barack Obama's trip to India, where he pledged to help boost New Delhi's global role.

UN sanctions on Iran do not cover oil sales.

India and Iran could agree to settle deals in Iran's rialor another currency such as the Japanese yen, Indian oil secretary S Sundareshan suggested on Thursday.

South Korea pays for Iranian crude using the won.

Payments could also be routed through a third-countrycentral or commercial bank.

An economy growing at about 9% a year has made India the world's fourth-largest importer of crude.
Iran is its second largest supplier after Saudi Arabia.

Indian oil importers get 90 days credit for payment so they are covered for old transactions, but future shipments would be in jeopardy if the matter had not been resolved.

India buys about 400,000 barrels per day of Iranian crude, sending roughly $12 billion a year to Tehran via the Asian Clearing Union, a system created in the 1970s by central banks in South Asia and Iran to clear trade payments between them.

Critics say the scheme is opaque to the monitoring of flows into Iranian organisations against which the United States has sanctions, as settlements are made on a net basis every two months.

Suspending Iranian imports when global crude prices are at near two-year highs and when Indian inflation is uncomfortably high would be costly for India.

India and Iran have long-standing ties but analysts say irritants and a new strategic thinking are prompting New Delhi to adopt a more nuanced and assertive policy.

New Delhi's interests are increasingly tied with the United States, and it is also mindful of Arab concerns over Iran's nuclear ambitions.

"When it comes to Iran, India can ignore pressure from the US and noises from Israel, but it cannot ignore concernsfrom the Arab countries," said PR Kumaraswamy, head of West Asian studies at New Delhi's Jawaharlal Nehru University.

"In a very subtle way, India is sending a message that its closeness with Iran will not affect relations with other West Asian countries."
 

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