Connect with us


India Stuns Trump Administration; Will Continue To Buy Iranian Oil



Opposing Washingtons unilateralism and warning of sanctions for buying Iranian oil, two Indian organizations have placed orders to import crude from the Islamic Republic of Iran, India’s minister of petroleum and natural gas announced.

Earlier, India approved to procure the advanced S-400 missile systems from Russia. which also came as a rude, but expected shock to the US. India-Russia defence deal of the S-400 air defence systems was signed despite the vehement opposition by the US.

“We have to fulfil all our domestic requirements,” said Dharmendra Pradhan (India’s minister of petroleum and natural gas), stating the strains the world’s third-largest oil importer now faces in attempting to find other sources.

On Tuesday, oil prices rose amid falling Iranian exports. Brent crude, the international benchmark, was up 65 cents to $84.56 a barrel. Last week it hit a four-year high of $86.74.

Mr Pradhan also discussed the possibility of India using the Indian Rupee to pay for Iranian crude. That would signal a willingness by India to bypass U.S. sanctions because the U.S. dollar is the dominant currency for the global oil trade.

Oil has been in the focus since Donald Trump withdrew the U.S. from the 2015 Obama-era nuclear agreement with Tehran and reimposed sanctions on Tehran in an attempt to restrict its destructive action across the Middle East. Even rigid penalties are set to start on Nov. 4, sanctioning governments who buy Iranian oil by blocking their access to U.S. markets.

Countries like South Korea and France, have stopped their purchases completely while China and India, the biggest buyers of Iranian crude, are now buying far fewer barrels. Indian officials state that a major concern has been the need to obtain a waiver from the US to allow them to gradually diversify from Iranian crude to different sources.

Last month during a visit to New Delhi, Secretary of State Mike Pompeo said the White House would only consider waivers for countries pledging to completely cut off Iranian oil. The Indian minister stated that Delhi was caught in-between of the Iran-U.S. dispute.

More News at EurAsian Times




s400-russia s400-russia
Featured3 hours ago

Third Batch Of Lethal S-400 Triumf Missile Defence Systems Delivered To Russia

Almaz-Antey Air and Space Defense Corporation JSC delivered the third batch S-400 Triumf missile defence system to the Russian Ministry...

Cold-War Cold-War
Americas3 hours ago

Who Is Winning The Race Between US, Russia & China To Develop World’s First Sixth-Gen Fighter Jet?

So far, the US is the only country to develop, operate and sell its fifth-generation fighter jets, while China and...

sukhoi-su-35 sukhoi-su-35
Featured8 hours ago

Setback For Su-30 As Russian Su-35 Jet Shoots It Down After An Intense Dogfight

In a bizarre incident that happened over the Russian skies on Tuesday, a Russian Su-35S fighter jet reportedly shot-down Su-30SM...

Gangayaan-ISRO Gangayaan-ISRO
Featured10 hours ago

ISRO’ Satellite Communications Attacked By Chinese Hackers – CASI Report

While concerns over China’s increasing space warfare capabilities have been highlighted in a recent Pentagon report, another U.S. think-tank has...

Featured12 hours ago

India Tests Powerful Short Range Prithvi-II Missile Amid Soaring Tensions With China, Pakistan

The Defence Research and Development Organisation (DRDO) of India has successfully test-fired the indigenous Prithvi – II missile, the third...

jet jet
Europe12 hours ago

Doors Still Open For India To Co-Develop ‘Tempest’ Sixth-Gen Fighter Jet With The UK

In 2007, India and Russia had agreed to jointly build a fifth-generation fighter jet called Sukhoi/HAL Fifth Generation Fighter Aircraft (FGFA)...

rafale-jets rafale-jets
Featured17 hours ago

36 More Rafales: France Wants India To Order More Rafale Jets For DRDO To Acquire Aero-Engine Tech?

As Indian netizens have widely celebrated the arrival of 4.5 generation Rafale jets and the Indian media threatening Pakistan and...

dalai-lama dalai-lama
Americas18 hours ago

After Xinjiang, China Pushing Tibetans Into Forced Labour, Re-Education Camps

China is allegedly pushing Tibetans into military-style labour camps similar to the ones in Xinjiang, according to a Reuters report....

Saudi-Israel Saudi-Israel
Featured1 day ago

Saudi Arabia Fully Supports US’ Efforts To Get Israel, Palestine On Negotiating Table – King Salman

King Salman bin Abdulaziz on Wednesday said that Saudi Arabia supports Washington’s efforts to bring the Palestinian and Israeli sides...

Americas1 day ago

Pentagon Blew COVID-19 Funds To Buy Military Equipment; ArcelorMittal, Rolls-Royce Awarded Big Contacts

Pentagon blew up $1 billion appropriated for the pandemic by the Congress to finance military equipment including jet engine parts,...