Arab Today, arab today india works with iran on oil bills
Last Updated : GMT 01:22:36
Arab Today, arab today
Arab Today, arab today

India works with Iran on oil bills

Arab Today, arab today

Arab Today, arab today India works with Iran on oil bills

New Delhi - Arabstoday

The US and Europe have put strict sanctions on Iran, especially its oil and banking sectors, to dissuade the country from pursuing its nuclear programme, which they say is for military purposes. The sanctions have pushed up international crude prices over the past few months on fears of severe supply disruptions and threaten to derail the global economic recovery. The Iran debate has become a sore point for India-US relations, with Washington trying to exert pressure on New Delhi to curtail trade. But supplies from Iran are crucial for India, accounting for more than a 10th of its annual crude oil imports. Also yesterday, Krishna said that India is trying to diversify its sources of crude oil imports to cut dependence on any one region. He added that India\'s oil companies have faced difficulties in making payments for the crude they buy from Iran. The problem arose after India\'s central bank in December 2010 barred Iran-related payments from being processed through the Asian Clearing Union, a regional clearing house which the US said is opaque and could be used by Tehran to finance its alleged nuclear weapons programme. The government started payments through Turkey\'s Halkbank in August last year, but this route may be cut off by the sanctions as well. India\'s crude oil imports from Iran are expected to fall by 8 per cent in the current financial year that ends March 31, to 340,000 barrels a day. Additionally, Junior Oil Minister R.P.N. Singh told lawmakers in a written reply in the lower house of the parliament yesterday that India and Iran have agreed for part-payment of crude oil imports in Indian rupees. India yesterday showed no signs of trying to reduce oil purchases from Iran, saying instead that it is in discussions with Tehran to ensure an uninterrupted supply of crude oil and to better manage settlement of payments. \"The government is studying the impact on India of the problems that have arisen due to imposition of sanctions against Iran,\" Foreign Minister S.M. Krishna said yesterday in a written reply to questions in the upper house of parliament. This comes just two days after the US State Department said 12 countries-including India and China-risk facing financial penalties this year because of their continued purchases of Iranian oil. But Krishna yesterday maintained India\'s position that trade with Iran won\'t be affected by the sanctions imposed by the US and the European Union against Tehran.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india works with iran on oil bills Arab Today, arab today india works with iran on oil bills

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india works with iran on oil bills Arab Today, arab today india works with iran on oil bills

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday