August 1 Deadline
Iran today reiterated its earlier warning to India that it will stop exporting oil to that country on 1 August if India could not finalize a way to pay its overdue invoices that exceeds $2 billion. Today’s warning was issued by a senior official at the ministry of oil and was carried by the semi-official Fars News Agency.
India is Iran’s second biggest crude oil customer and stopping the exports to the country would seriously affect Iran’s global market share in crude oil exports. It is also expected that if Iran stops oil shipments to India in less than two weeks, Saudi Arabia, already India’s largest source of oil imports, would try to raise its exports to account for the Iranian loss.
Correction: We had reported earlier that India's unpaid oil bills exceed $2 billion. Today, the governor of the Central Bank of Iran told reporters in Tehran that India’s unpaid bills are much higher, and actually exceeds $5 billion.
8 comments:
"Saudi Arabia, already India’s largest source of oil imports, would try to raise its exports to account for the Iranian loss"
aaah, this is the moment of truth isn't it? The Indian govt has been playing at their usual chaotic double-game. Trying to satisfy American indignation, whilst gorging on (free) Iranian oil! If the Saudis are expected to pull the Indians out of this hole I'll pay for a front row seat to watch them all fall flat on their faces.
I pray Iran sticks to its guns and cuts off supply to India, let them be on the hook to the fundamentalists in Riyadh, whilst being terrorised by the proxies and agents of those same fundamentalists through Pakistan. India is handicapping itself strategically, battling Saudi agents in Afghanistan, and Pakistan, and Kashmir, and depending on Saudi oil! India is in effect financing the terrorisation of it populace.
Hahaha, I'm shaking with laughter, you couldn't make it up! Iran does it again, exercise patience while your enemies ruin themselves, exhaust their options, then come begging to you to bail them out.
In my view, for Iran it would be worth the exercise to stop all oil deliveries to India.
It would be interesting to see whether the Saudis really were able and willing to jump into the gap. It would also be interesting to see how India is dealing with an oil shortage, if no Saudi oil is available for compensation.
I guess, such a development would soon be unbearable for India, as economic losses incurred would soon exceed by far the profit of getting cheap Iranian oil.
Dear Gifted One, the fundamentalists in Arabia aren't much worse than the fundaments running Iran.
India doesn't need Iran as much as Iran needs India.
India is moving away from Iran as Iran becomes isolated in the world.
So you keep shaking it, giggle a bit while Iran influence continues its decline, while the Arabs take countermeasures against Iran's noxious meddling, and while Iran tries to keep things together with band-aids and duct tape.
Laugh now, while's there's still a bit of time for it.
india will distroyed his 30 years business with iran as they knows well iran stop them from bankrupcy in 30 years ago for iran to find other client would not be hard market has full demand for it question is if saudi oil exployed some how /how india will get his market back that would be hard for them as i know iran will shefted new market to pakistan to see better grow in his ecconomy and much indepenede to itself then usa need lot of things is comming true by this month.
You know wrongyl...
"i know iran will shefted new market to pakistan..."
is silly. Pakistan can't pay for anything and if Iran is making a fuss over bills that are 2 months past due, Iran surely can't be selling to a country such as Pakistan, which has an economy that's entirely a shambles.
Pakistan is worse off than iran and Iran really hasn't the capacity to carry sales to Pakistan on its books and wait till hell freezes over for payment.
You know wrongyl...
"i know iran will shefted new market to pakistan..."
is silly. Pakistan can't pay for anything and if Iran is making a fuss over bills that are 2 months past due, Iran surely can't be selling to a country such as Pakistan, which has an economy that's entirely a shambles.
Pakistan is worse off than iran and Iran really hasn't the capacity to carry sales to Pakistan on its books and wait till hell freezes over for payment.
anon 12:15
your understanding of fundamentalist is sowestern and so generalized that made me not read the rest of what u had to say !
It is very simple
who does not pay his debts, will not receive any oil
no mattwer if iran isolated, or not isoladed , needs india more odr needs less.
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