20 C
New Delhi
Sunday 5 April 2020

Iranian oil export to India to stop under US pressure

India has been the second biggest buyer of Iranian crude oil after China. It bought some 24 million tonnes of crude oil from Iran in the fiscal ended March 31 (2018-19).

Editorials

In India

Power Grid says fear of tripping at 9:09 PM on 5 April baseless

Once the Ministry of Power made its statement, the critics cut a sorry figure, with politicians asking why the prime minister's statements call for clarifications and 'experts' saying this was avoidable

Terrorist links of Tablighi Jamaat include Masood Azhar, Osama bin Laden

Maulana Masood Azhar, the founder of the terrorist group Harkat ul Mujahideen which underwent several name changes to finally become Jaish-e-Mohammed, is not only a member of the Tablighi Jamaat but also a once close associate of Osama bin Laden

New Delhi: Announcing the end of the waiver for some countries that buy Iranian oil, Washington has conveyed to Delhi that it has stood by India on combating terrorism after the Pulwama attack and it now expects reciprocity on President Donald Trump’s commitment to disrupt Iran’s terror network.

The Trump administration has assured that the exemption of the development of the Chabahar port project will continue although its decision to halt the waiver on oil imports to India is guided by its objective of “changing the Iranian regime’s malign behaviour”.

“Until the waivers are not restored back, I don’t think India can buy oil from Iran. We will stop importing oil from Iran,” a top official said.

India has been the second biggest buyer of Iranian crude oil after China. It bought some 24 million tonnes of crude oil from Iran in the fiscal ended 31 March (2018-19). Iran supplied more than a tenth of its oil needs.

Indian Oil Corp (IOC) Chairman Sanjiv Singh said refiners import crude oil from a wide range of sources and had been lining up alternate supplies for the past months.
The US was to take a decision on waiver extension this month and Indian refineries had prepared plans for all eventualities.

“We have alternate sources lined up to make up for any shortfall,” he said.

Trump administration’s increased coordination with Saudi Arabia, to ensure that oil markets remain fully supplied, follows persistent and bipartisan criticism in Congress of the kingdom’s human rights record, its war in Yemen and its role in the October killing of the dissident journalist Jamal Khashoggi, who was a resident of the United States.

Saudi Arabia is an avowed enemy of Iran. It has also been coordinating with Russia in recent years to manage global oil prices.

Iranian President Hassan Rouhani had inaugurated the first phase of the Chabahar port on the Gulf of Oman in 2017, opening a new strategic route connecting Iran, India and Afghanistan bypassing Pakistan and reflecting growing convergence of interests among the three countries.

The Narendra Modi government is keen on developing Chabahar Port in Iran and is hopeful of starting operations by 2018.

Coronavirus worldwide update, with focus on India, LIVE

Since the facts and figures related to the novel coronavirus disease 2019 (nCOVID-19, COVID-19 or COVID) are changing by the minute, Sirf News has begun this blog to keep the readers updated with information coming from authentic sources

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Articles

China Is Guilty, But How Will World Retaliate?

The attack has to be calibrated as the world has invested heavily in China and that country, in turn, has markets worldwide, making your own economy vulnerable when you take measures against Beijing

Sewa In COVID Times: Living ‘Service Before Self’ Credo

Sewa International volunteers were first off the starting block, setting up non-medical helplines for the four regional areas — West Coast, East Coast, Midwest, and Southwest — for a coordinated national response, where people can call in for assistance

India And US: Same COVID, Different Prescriptions

The different social structures, experiences in the leaders of the two countries, variation in the degree of political capital, etc make India and the US react differently to the global COVID pandemic

China Is Guilty, But How Will World Retaliate?

The attack has to be calibrated as the world has invested heavily in China and that country, in turn, has markets worldwide, making your own economy vulnerable when you take measures against Beijing

Sewa In COVID Times: Living ‘Service Before Self’ Credo

Sewa International volunteers were first off the starting block, setting up non-medical helplines for the four regional areas — West Coast, East Coast, Midwest, and Southwest — for a coordinated national response, where people can call in for assistance

India And US: Same COVID, Different Prescriptions

The different social structures, experiences in the leaders of the two countries, variation in the degree of political capital, etc make India and the US react differently to the global COVID pandemic

For fearless journalism

%d bloggers like this: