India announced today it would cut Iranian oil imports by 11 percent.
The cut would constitute a significant step for India toward securing a waiver
from US sanctions before end-June deadline and came a week after US Secretary
of State Hillary Clinton visited New Delhi. However, the Indian officials were
quoted by Outlook India as saying
that the reduction of imports from Iran was not under US pressure.
The US has already granted waiver to Japan and 10 European countries
after they announced deeper cuts than what was announced by India and may not
go far enough to prompt a waiver.
Meanwhile, India’s ministry of commerce and industry said today that a
new rial-rupee payment arrangement has been put in place for Iran’s oil
imports. No details were released [The Economic Times, 16 May].
An awful lot of American political capital is being put into these anti-Iran measures. And ordinary Americans are paying 60 cents more per gallon at the pump. Is it all worth it? I don't think so.
ReplyDeleteOf course it is worth it!
ReplyDeleteGood riddance to bad rubbish.
almost the same amount rise in export to Europe again.
ReplyDeletethe india decreases the import
ReplyDeleteTaiwan increases the import
http://www.presstv.ir/detail/2012/05/18/241856/taiwan-oil-imports-iran/