India to cut 50% oil imports from Iran

[sathya]

It's going to be Oil expenditure vs Trump sanctions effect.

For Trump, we need to have extra safety margin ..

Although reports are suggesting 50 % cuts , I doubt India could afford to do that.

 

[Dai Toruko]

What a shame. This is proof of India's inability to act independently!

 

[Persian Gulf 1906]

What a shame. This is proof of India's inability to act independently!

Recently it looks like only Iran Turkey and China are prepared to put national pride and independence above being a slave to the West!

 

[randomradio]

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).

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.

 

[Persian Gulf 1906]

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.

 

[randomradio]

750k was just july, i think 50% cut might be for the annual average (closer to 600k).

Depends on the actual negotiations.

but yes you are right, but 50% is still a very big cut and very disappointing from india.

But this set up is way better than not having it. With 50% waiver, India can still trade with Iran in euros. But if the sanctions are applied, then trade will still happen, perhaps more than 50% cut, but in INR. So this is a better deal than with China, trade in yuans instead, even if they continue to buy 100% of their share. You will end up giving all your yuans back to China.

Plus if you count all the dollars or euros you can get through other investment deals from India in Chabahar and Farzad B, your overall forex benefit will come from India and not China.

 

[Indus Pakistan]

This view is too black and white.

I had to. I did not want to write a 99 page thesis on the subject to cover every shade of grey.

2)You can have two superpowers - USA and USSR for instance.

I know you can. But they will be rivals. And that was my point.

Rest of your post merely confirms something rather regretfully. I say this because I really like Iran and a admirer of Persian civilization. And that is Iran has turned itself into a oddball. Difficult, reticulated, annoying enigmatic, ability to shoot itself and almost the worst enemy unto itself. Iran. A people with sophisticated culture, intellect, ability anbd married to the fourth largest oil reserves on earth should have been by 2018 the Germany on the Caspian Sea. Instead all that potential is wasted precisely because of this insistence of eating onionns and getting thrashed at the same time. Look at the camel jockeys who had nothing but sand have progressed by using the oil. Then look at Iran with it's huge potential.

Without going further mark my words. Indians are Israeli worshing, American lovin and will dump* Iran in the manner and shape Washington chooses to. The slight independence in Indian policy you see is not surprising. Have you seen the size of India. It's like 1/5 of the humaity. But still India will toe US line.

I have began to detest the mullahs in Iran over the last few years. For what they have done to a great people. I hope the best for Iran anyway not that I expect Mullahs do anything good.

Ps. Sometime I detect the 'abused wife syndrome' from Iranians. Abused wifes will latch on to the tiniest positive that is extended by their abusive husbands. Like oh he still gave £1 to spend" or "oh he beat me up but he did not throw me out" etc I see the same thinking when it comes to India. Making excuses for their actions toward Iran. *Sad*

 

[Quibbler]

India needs to realize Trump is no Obama no waivers this time. This will eventually be 100%.

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.

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.

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.

 

[FalconStar]

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.

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.

 

[Quibbler]

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.

Guess what we import from both even under sanctions. Only if Paksitan hadn't sold its soul, it would too.

 

[M.R.9]

well.

Actually oil means oil. Iran is really a 69 types of country .

 

[FalconStar]

Guess what we import from both even under sanctions. Only if Paksitan hadn't sold its soul, it would too.

OK.
I'll ask you this question after 3rd November when the full sanctions kick in.
You ain't getting no waiver this time.

 

[BHarwana]

India failed to give resistance to USA lol to wanna be supper power.

 

[Asian.Century]

India is trying to hurt Iran economically badly as all these orders coming to india from its master USA. Period.

 

[BHarwana]

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.

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.

The spot which india leaves in Iran will be taken by China lol. Iran has no worries. It is India which is in trouble.

Pakistan is doing trade with Iran despite US sanctions and Pakistan has openly said it will continue to do so.