India to pay in rupees for Iranian oil from November

[Tokhme khar]

US is a joker.......nobody takes them seriously anymore. Anti Iran sanctions have failed yet again.

Sanctions on India are imminent... We will buy S-400 and will keep buying oil from Iran... US will put sanctions on India... point is... when...



We don't know... keep a close eye on that...

 

[Tshering22]

Iran had suggested this in 2013 itself while our then government was bungling around and wasting time due to their own corruption and short-sightedness.

While trading oil in Rupee would invite Trump's wrath, I really don't see how we could have avoided it. Also, Iranians buying stuff in Rupees would mean that Rupee will become a small part of their forex reserves with which they'll be able to buy only from India or Nepal or Bhutan.

We need to ramp up our manufacturing to ensure that they can actually buy some good products from us and continue this Rupee trade.

 

[Tokhme khar]

This is the key! Bypass the USD completely in all transactions. Iran can buy a lot of things from India. The point is, desperate attempts at isolating Iran have failed before miserably......and are failing again with this new joker in the white house.

Iran had suggested this in 2013 itself while our then government was bungling around and wasting time due to their own corruption and short-sightedness.

While trading oil in Rupee would invite Trump's wrath, I really don't see how we could have avoided it. Also, Iranians buying stuff in Rupees would mean that Rupee will become a small part of their forex reserves with which they'll be able to buy only from India or Nepal or Bhutan.

We need to ramp up our manufacturing to ensure that they can actually buy some good products from us and continue this Rupee trade.

 

[Tshering22]

Not so fast,
India can offer whatever it wants,
fact of the matter is that if India trades oil in Rupees that means, Iran can buy stuff only from India in return from those rupees.

It is a win ONLY for india, not for Iran.
Iran is not going to accept that, not unless they are in dire straits.

The other part true, is that Mother india is one of the biggest importers of oil, thus Trump and Arabs wants
mother india's oil to come from them, and they get $$$$.

So, just watch how this drama unfolds.

Would, should, could and maybe...

The idea was first floated by Iran long back. Now obviously they'd have an economic plan to use those Rupees as India Iran trade is pretty decent in size.

Besides it is not like the dollar is dying anyways. If the US cannot waive off the sanctions, this is the only way out. Or they need to offer oil to us at the same price as Iran, which is impossible.

 

[prashantazazel]

India has to boost manufacturing so that countries like Iran can continue trading in Rupees.

 

[Sinnerman108]

Would, should, could and maybe...

The idea was first floated by Iran long back. Now obviously they'd have an economic plan to use those Rupees as India Iran trade is pretty decent in size.

Besides it is not like the dollar is dying anyways. If the US cannot waive off the sanctions, this is the only way out. Or they need to offer oil to us at the same price as Iran, which is impossible.

Lets see if Iran will let this happen,
It will be a new low.

 

[kris]

Not so fast,
India can offer whatever it wants,
fact of the matter is that if India trades oil in Rupees that means, Iran can buy stuff only from India in return from those rupees.

It is a win ONLY for india, not for Iran.
Iran is not going to accept that, not unless they are in dire straits.

The other part true, is that Mother india is one of the biggest importers of oil, thus Trump and Arabs wants
mother india's oil to come from them, and they get $$$$.

So, just watch how this drama unfolds.

Iran already is in dire economic situation.
They have no better option on table as on now

what Iran would accept Indian rupees in payment for 45 percent of the Iranian crude India buys. The remaining 55 percent will continue to be paid in euros to an Iranian account in Turkey’s Halkbank.Both Iran and India fear that new sanctions now taking effect will prompt Halkbank to f*** their business.
This shaddy rupee is not a convertible currency and the currency is also losing value rapidly.45 percent figure was a surprise that suggests India has used the threat to stop buying Iranian oil to throttle Iran and extract a good deal .There may be some surprises in the details. For example, many months ago India said it wanted to pay in rupees but would bar Iran from using any of those rupees to buy stock in Indian companies. Iran did not like that.

What options are iran left with

Iran had suggested this in 2013 itself while our then government was bungling around and wasting time due to their own corruption and short-sightedness.

While trading oil in Rupee would invite Trump's wrath, I really don't see how we could have avoided it. Also, Iranians buying stuff in Rupees would mean that Rupee will become a small part of their forex reserves with which they'll be able to buy only from India or Nepal or Bhutan.

We need to ramp up our manufacturing to ensure that they can actually buy some good products from us and continue this Rupee trade.

Actually we can sell them some good military stuff which will not irk the west. Win win situation

 

[Peshwa]

Iran had suggested this in 2013 itself while our then government was bungling around and wasting time due to their own corruption and short-sightedness.

While trading oil in Rupee would invite Trump's wrath, I really don't see how we could have avoided it. Also, Iranians buying stuff in Rupees would mean that Rupee will become a small part of their forex reserves with which they'll be able to buy only from India or Nepal or Bhutan.

We need to ramp up our manufacturing to ensure that they can actually buy some good products from us and continue this Rupee trade.

Oil for commodities swap is a very common thing.
I'm currently servicing Govt. contracts in Venezuela under a similar deal for Pharmaceuticals. Its the best way to bypass sanctions.
We had a similar deal with Russia in the past.

https://oilprice.com/Energy/Energy-...Venezuelan-Oil-With-Petro-Cryptocurrency.html

Venezuela, for its part, has also recently suggested that it was willing to accept rupees for the oil it sells to India—another way of bypassing the U.S. sanctions on dollar-based trade. The South American nation could then use its rupees to buy Indian food products and medicines, Indian media cited Venezuela’s envoy Augusto Montiel as saying last week.

 

[ranawat]

Nope, the only time your mom comes to me is when you are sleeping- so I guessed.

What a retard .

 

[prashantazazel]

US is a joker.......nobody takes them seriously anymore. Anti Iran sanctions have failed yet again.

They will have a new president soon. More likely a Liberal after all this craziness

 

[Tshering22]

Actually we can sell them some good military stuff which will not irk the west. Win win situation

No we definitely cannot.

That's the bloody point of sanctions. If they wanted someone to cooperate with Iranians militarily, then they won't have pushed Russia and China to not sell them in the first place.

 

[Novice09]

Oil for commodities swap is a very common thing.
I'm currently servicing Govt. contracts in Venezuela under a similar deal for Pharmaceuticals. Its the best way to bypass sanctions.
We had a similar deal with Russia in the past.

https://oilprice.com/Energy/Energy-...Venezuelan-Oil-With-Petro-Cryptocurrency.html

Venezuela, for its part, has also recently suggested that it was willing to accept rupees for the oil it sells to India—another way of bypassing the U.S. sanctions on dollar-based trade. The South American nation could then use its rupees to buy Indian food products and medicines, Indian media cited Venezuela’s envoy Augusto Montiel as saying last week.

Three countries are ready to deal in INR... Iran, Venezuela and Zimbabwe... GOI is already in talks with Venezuela to create a framework for this...

 

[WinterNights]

Gangadesh is trying to ditch Iranian oil deal because of the pressure from its sugar daddy and this is another attempt to get of the deal.

How much oil and gas does pakistan buy from Iran again? remind me what happened to the gas pipeline?
If I were you, I would not talk about Indians capitulating under pressure. At least they're fighting back using whatever methods they can find. Meanwhile you lot can't even finish a pipeline.

 

[war&peace]

How much oil and gas does pakistan buy from Iran again? remind me what happened to the gas pipeline?
If I were you, I would not talk about Indians capitulating under pressure. At least they're fighting back using whatever methods they can find. Meanwhile you lot can't even finish a pipeline.

I'm sure that Pak-Iran gas pipeline will be constructed and finished in near future.