India set to pay for Iranian oil using rupee from November

21 Septembre, 2018, 06:58 | Auteur: Auguste Feret
  • Crude Oil

As the U.S. sanctions on import of Iranian crude oil loom large, India is engaged with the European Union for an alternative channel for making payments to Tehran for buying petroleum products, sources said Wednesday.

"We have told the Indians consistently, as we have told every nation, that on November 4th the sanctions with respect to Iranian crude oil will be enforced, and that we will consider waivers where appropriate, but that it is our expectation that the purchases of Iranian crude oil will go to zero from every country, or sanctions will be imposed", Secretary Pompeo said, noting that many countries would need "a little bit of time to unwind". This has forced the refiner to cancel a scheduled loading of 1 million barrels in October, they said.

Tsukioka, who also serves as chairman of refiner Idemitsu Kosan, however, did not comment on the details of each refiner's reaction.

Reuters in June reported that India is looking to revive the its earlier rupee payment mechanism with Iran.

In May, US President Donald Trump pulled out of an worldwide nuclear deal with Iran and announced new sanctions against the country, the third-largest producer among the Organization of the Petroleum Exporting Countries (OPEC).

As the US-led sanctions are set to take into effect in November, the Indian government has been ordered to completely wind down its purchases of Iranian oil or risk violating sanctions.

The official said Iran is open to accepting rupee payment for oil and may use the money to pay for equipments and food items it buys from India. India is the second-largest buyer of Iranian crude oil, which is cheaper than oil sourced from other countries.

This Banking Giant Just Partnered with Ripple
The bank services over 8 million customers in 19 states in areas including retail, consumer-ended banking and corporate banking. Few days back, Today's Gazette announced that the National Commercial Bank of Saudi Arabia (NCB) joined the RippleNet .

Nissan has transformed a pick-up truck into a mobile space observatory
According to the space agency, this concept includes a trailer featuring a high-powered observatory-class PlaneWave telescope. ProPILOT enhances the driver's control by combining Nissan's Intelligent Cruise Control and Steering Assist technologies.

Disney CEO Confirms Slowdown Is Coming For Star Wars Movies
He added "that doesn't mean we're not going to make films ..." The next Star Wars movie in the works is The Force Awakens director J.J.

India is in touch with both Iran and the United States on the complex issue.

UCO Bank had in the previous round of sanctions handled rupee payments. These channels would get blocked from November. It began clearing the dues in 2015 when the restrictions were eased.

South Korea did not import any Iranian oil in August, compared to 194,000 bpd in imports from Iran in July, according to tanker-tracking and shipping data compiled by Bloomberg.

"Previously we settled 45 percent of our trade in rupees this time it could be 100 percent".

However, India has been apprising the U.S. about its energy requirement to fuel its economy as well as the importance of Iranian oil. India is the second-biggest client of Iran and sources almost one-tenth of its crude supplies from there.

Iran is India's third largest oil supplier after Iraq and Saudi Arabia.

Conseillé:

  • Tesla Now Facing Criminal Probe Over Elon Musk's Take-Private Tweets

    Tesla Now Facing Criminal Probe Over Elon Musk's Take-Private Tweets

    The Justice Department asked Tesla for documents about Musk's announcement, Tesla said, describing it as a "voluntary request". A probe by the justice department could take months to complete, and could result in no charges being laid.
    HBO's Watchmen series to get a score by Nine Inch Nails

    HBO's Watchmen series to get a score by Nine Inch Nails

    The new HBO series is from Damon Lindelof ( Lost , The Leftovers ) and premieres in 2019. This will mark the first time they have created music for a scripted TV series.
    Stormy Daniels Claims Ben Roethlisberger Asked Her for a Goodnight Kiss

    Stormy Daniels Claims Ben Roethlisberger Asked Her for a Goodnight Kiss

    Daniels also wrote that Roethlisberger "stood outside, not leaving" while knocking for several minutes until he eventually left. He was chatting with Trump, and at the end of the night Trump asked Roethlisberger to walk her up to her hotel room.
  • Marvel's Daredevil: Season Three; Netflix Releases Premiere Date and Footage

    The release comes surprisingly close to the just-unleashed Iron Fist Season 2, which arrived in early September. Season 2 of Marvel's Daredevil was released during a crowded release date for superhero fans.
    NASA telescope discovers two new planets

    NASA telescope discovers two new planets

    TESS will study 13 sectors in the southern sky the first year, followed by 13 sectors in the northern sky the second year. NASA plans to have TESS monitor 85% of the sky over the next two years, focusing on a new sector every 27 days.
    The #MeToo charge against Donald Trump’s Supreme Court pick Brett Kavanaugh

    The #MeToo charge against Donald Trump’s Supreme Court pick Brett Kavanaugh

    Ford wants an FBI investigation done before testifying, but President Donald Trump and Republicans have rebuffed her. Ford has received a stunning amount of support from her community and from fellow citizens across our country.
  • Former Gophers player Nick Connelly loses battle with cancer

    Former Gophers player Nick Connelly loses battle with cancer

    University of Minnesota football player Nick Connelly had to quit the game he loved after suffering concussions last season. After initially responding well to treatment, Connelly's cancer became resistant to all chemotherapy regimens. ".
    3.4M chickens, 5,500 hogs dead in Florence flood

    3.4M chickens, 5,500 hogs dead in Florence flood

    There, he handed out packages of hot dogs and apple sauce and told the crowd, "Our hearts break for you". President Trump is now taking part in a briefing at Marine Corps Air Station in Cherry Point, N.C.
    Macron Says Pro-Brexit Politicians 'Liars', Rejects May 'Chequers' Plan

    Macron Says Pro-Brexit Politicians 'Liars', Rejects May 'Chequers' Plan

    After her briefing with Tusk, May told reporters there was still "willingness to do a deal" on both sides of the negotiation. "There are some issues where we are not ready to compromise", Tusk said .
  • NHTSA gives 2018 Tesla Model 3 ideal  marks for crash safety

    NHTSA gives 2018 Tesla Model 3 ideal marks for crash safety

    Even the 2018 Toyota Camry, a sedan that matched the Model 3's flawless scores in every test, had a 9.9% rollover resistance. That became crystal-clear in May, when the automaker promptly responded to tests conducted by Consumer Reports .

    China plans import tariff cuts as soon as October

    The pair of powerhouse economies have already imposed tariffs on $50 billion worth of each other's imports. On Monday, the US and China are scheduled to impose a new round of tariffs on one another's imports.

    Cruz vs. O'Rourke: Two polls show different results

    The Reuters poll also found O'Rourke with a strong advantage, by about a 2-to-1 margin, with Hispanic voters in Texas over Cruz. So, is one company more reliable than the other? "The disclosure on the poll shows it to be sound", said Henson.


Populaire

Cuban Agrees to $10 Million Payment Over Mavs Sex Harassment
And it's clear in the report that you didn't know about that. "It was my responsibility, and I have to be accountable for it". Mark Cuban: "Yeah I mean I literally did not know it". "In hindsight, it was staring me right in the face, and I missed it".

U.S. stock benchmarks close at record highs
The Nasdaq also closed higher on Thursday, rising just less than 1% to close above 8,000, but short of a record close. The S&P 500 posted 32 new 52-week highs and no new lows; the Nasdaq Composite recorded 53 new highs and 58 new lows.

Defiant Serena Williams opens up about US Open controversy
Ramos issued a third violation, which included a game penalty, after Williams confronted him and called him a " thief ". Alize Cornet, a French tennis player, also received a code violation for briefly taking her shirt off to fix it.

Lost alum Jeremy Davies to play mad doctor in Arrowverse crossover
Although Gotham - Batman's stomping grounds - has been referenced within the Arrowverse shows, it has so far yet to be featured. Abram's groundbreaking ABC series Lost as Daniel Faraday, a favorite of both fans and critics.

Trump tells OPEC to lower oil prices
The meeting is unlikely to agree to an official rise in crude output, although pressure is mounting to prevent a spike in prices. Trump criticizing the Organization of the Petroleum Exporting Countries for not doing enough to keep prices lower.

AbbVie Kickbacks Tainted $1.3B In Humira Claims, Calif. Says
Humira is given by injection and is used to fight rheumatoid arthritis and other inflammatory conditions. Much of the lawsuit covering the alleged "classic kickbacks" paid by AbbVie to doctors is redacted.

Mayor, grandma kills 12-foot gator: 'Don't mess with Nana'
The Texas mayor noted she had followed all the requirements for hunting the alligator, as outlined by state law, NBC News noted. "It's a part of wildlife management.it's not just willy-nilly we decide to go down and kill a gator for heck of it", she said.

Tiger Woods wraps up efficient Tour Championship round in the lead
The TOUR Championship, the final of the four events in the FedExCup Playoffs , is contested at East Lake Golf Club in Atlanta, GA. The two-time Tour Championship victor sits atop the leaderboard at five under alongside Rickie Fowler (65).

Programmable 'skins' turn any household object into a robot
Kramer-Bottiglio said she came up with the idea for the devices a few years ago when NASA put out a call for soft robotic systems. Astronauts could use OmniSkins, or something like it, to adapt and reuse tools onboard the International Space Station.

North Korea's Kim wants another Trump summit to speed denuclearisation
Moon urged unity for all Koreans in a speech he gave Wednesday night to the crowd gathered for North Korea's signature mass games. The next meeting between Trump and Kim should seek to produce a timeline for denuclearization, he said.