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Recently it looks like only Iran Turkey and China are prepared to put national pride and independence above being a slave to the West!What a shame. This is proof of India's inability to act independently!
In 2012 India secured a waiver by cutting imports by 20%, but we knew this time would be worse and 50% was worst case scenario. Last month India imported record amount of oil (750k bpd) so a 50% cut would be very disappointing but still significant and a big blow to Trump's plans to reduce Iran's oil exports to 0 (China already said they won't cut at all).
750k was just july, i think 50% cut might be for the annual average (closer to 600k).A 50% cut bringing it down to 375k bpd is still nearly twice more than what India used to import during the previous sanctions.
https://in.reuters.com/article/india-iran-oil-idINKBN0KP0EB20150116
India - Iran’s top oil customer after China - imported 276,800 bpd of oil and condensate last year, compared with 195,600 bpd in 2013, according to tanker arrival data obtained from trade sources and Thomson Reuters Oil Research & Forecasts.
750k was just july, i think 50% cut might be for the annual average (closer to 600k).
but yes you are right, but 50% is still a very big cut and very disappointing from india.
I had to. I did not want to write a 99 page thesis on the subject to cover every shade of grey.This view is too black and white.
I know you can. But they will be rivals. And that was my point.2)You can have two superpowers - USA and USSR for instance.
You are Iran's next door neighbor. You'll get the cheapest oil from Iran. And still you buy 0 oil from them. Maybe a time to introspect. India will still import massive amounts of oil from Iran. And it will be cheaper than the international market as Iran is under sanctions. We still end with oil cheaper than what you would get. We get to save Billions whereas you will still be abused by the Yankees.India needs to realize Trump is no Obama no waivers this time. This will eventually be 100%.
750k was just july, i think 50% cut might be for the annual average (closer to 600k).
but yes you are right, but 50% is still a very big cut and very disappointing from india.
We import from Saudi cause they give us an uninterrupted supply of oil without the fear of any sanctions and they keep providing us even when the payments get late and many times they have given it to us free of cost.You are Iran's next door neighbor. You'll get the cheapest oil from Iran. And still you buy 0 oil from them. Maybe a time to introspect. India will still import massive amounts of oil from Iran. And it will be cheaper than the international market as Iran is under sanctions. We still end with oil cheaper than what you would get. We get to save Billions whereas you will still be abused by the Yankees.
And India has a coherent and thought out foreign policy unlike Pakistan's. We imported record oil from Iran this year. Even with 50 pc cuts we will be Importing more oil than we usually would.
Guess what we import from both even under sanctions. Only if Paksitan hadn't sold its soul, it would too.We import from Saudi cause they give us an uninterrupted supply of oil without the fear of any sanctions and they keep providing us even when the payments get late and many times they have given it to us free of cost.
So why would we switch to a unreliable partner who sends Kulbhushan Yadav like characters into our country.
And they would never forgive any payments as they need every dollar they can get for themselves.
OK.Guess what we import from both even under sanctions. Only if Paksitan hadn't sold its soul, it would too.
Why should Pakistan import oil from Iran? If Pakistan imports oil from Iran that will solve Indian problem and India will find a spot in middle east to import oil from lol. India should go and find oil for its self.You are Iran's next door neighbor. You'll get the cheapest oil from Iran. And still you buy 0 oil from them. Maybe a time to introspect. India will still import massive amounts of oil from Iran. And it will be cheaper than the international market as Iran is under sanctions. We still end with oil cheaper than what you would get. We get to save Billions whereas you will still be abused by the Yankees.
And India has a coherent and thought out foreign policy unlike Pakistan's. We imported record oil from Iran this year. Even with 50 pc cuts we will be Importing more oil than we usually would.
Sorry but you need to understand. India will not take a bull by its horns. It national pride is not so flimsy to put national interest above it.
In the end we end up importing a lot of oil from Iran, more than what we usually would. We can also eke out concessions from US in other trade sectors using the Iran card. I think this is best for the economy. See beyond the rhetoric and see what matters. You get to sell us oil, alot of it and we get to eke out better terms for everyone.