Iran suspended crude oil exports to India. The Iranian authorities said today in Tehran that India’s debts to the country has now exceeded $7.9 billion, as India has been unable to find a way to transfer the funds to Iran [Tabnak, 30 July].
The disruption of oil export to India and Iran’s inability to use global banking system to receive the funds are the biggest effects yet of the tough and growing financial sanctions against the country. India was Iran’s second largest oil customer.
7 comments:
The choots want to "not" pay and so they use the sanctions as excuse and cash in on the interests.
Iran's senior officials and its central bank are saying that India indeed wants to pay its debts and has been trying various ways to do so. For a large economy as India, it does not make sense to default on the debt with implications on its oil needs and its financial and rating status.
It is the sanctions regime that is the cause of the problem here. Major international banks are reluctant to facilitate the payments and risk violating the sanctions rules. As long as these types of sanctions, targeting banking sector, are in place, Iran will find itself increasingly cut off from the global financial markets, and the current problems with India could be faced elsewhere.
I am truly ashamed of my Indian brothers. They are still utter stooges of Anglos. At least the Chinese have a sense of racial pride. I would rather be poor and free than be rich and a slave. Fortunately Iran is both richer than India and infinitely more independent.
Elsewhere it is being reported that India and Iran has reached a 'test' settlement that will funnel payment through Union Bank of India to Turkey's Halkbank for Euro cash. Mojnews reports that an agreement is imminent in a day or so.
Where there is a will, there is a way! Japan, South Korea and China, just to name a few, can purchase oil without humiliation. What is REALLY behind this India nonsense? An emerging Giant like india acting like an ant. I truly do not understand where the power-play for India ends.
is extraimly bad for india market to lose iran oil may not gain the spot back any more because the demand of oil is increasing so badly does not make sence for india to lose his rating just to please usa which in the futureif it has probled iran or any country will never be trust india business to give them credit for 10 day or more i believe india spot is already full by other country dammand that need more oil and also may increase the price of oil by 10 doller in comming weeks which would be benefit iran in both way.
India should be careful not to fall for the Zionist inspired sanctions regime against Iran.
India has no real friends in Asia and now a strategic axis is developing between Iran-Pakistan and China. India is very vulnerable in Afghanistan and Kashmir and should think thrice about falling for US failing agenda. India is a very poor and fragmented collection of various ethnic and religious groups that are waging insurgencies from Assam to Kashmir, making more powerful enemies is almost suicidal as economic and geo-strategic power has now totally shifted to a China centric world in the Asian millenium.
India is listed by the UN as one the countries facing massive famine in the next decade as its population passes China and its economic woes multiply. In the era of declining fossil fuels where will India get its gas or oil? There is no substitute for Iranian energy supplies. The deadbeat Indians need to pay up pronto.
stupid India needs a more independent policy and it NEEDS iran's oil so bluffing,delaying,etc will not be in India's long term interests. Oil consumption in the world's largest economies keeps increasing so the plain FACT is that India need not worry only about oil today, but for the rest of its existence as a nation.Iran made the right move here.
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