Iran agrees to take all oil payments from India in rupees

[sree45]

Now, India should start importing more and more oil from Iran. We must even look at the option of exporting wheat in exchange for oil. We have loads of wheat rotting.

 

[darkinsky]

very stupid move by iran, indian currency cant be used except trading with india again

good for india though, for making iran fool

 

[ChinaToday]

Very bad news for iran

 

[BATMAN]

very stupid move by iran, indian currency cant be used except trading with india again

good for india though, for making iran fool

Why does buying from India is promoted as trading? Its just simply forced to shop from India.

 

[AADHAAR]

Others like PRC can buy Iranian oil, against Gold.

Iran has shown a to PRC currency.

 

[Serpentine]

Good for both Iran and India.

Apart from basmati rice, pharms .. more items India could supply them need to be explored.

No buddy, It's only good for India, not Iran.It will reduce Iran's bargaining power for importing goods, it forces Iran to neglect some other high quality goods on the market and consider the Indian equivalent. I hope these sanctions end as soon as possible so that Iran can decide what to do with its oil money, and that wouldn't be a limited set of products of one specific country.

 

[SirHatesALot]

Now, India should start importing more and more oil from Iran. We must even look at the option of exporting wheat in exchange for oil. We have loads of wheat rotting.

Exploit them while we can.

 

[illusion8]

No buddy, It's only good for India, not Iran.It will reduce Iran's bargaining power for importing goods, it forces Iran to neglect some other high quality goods on the market and consider the Indian equivalent. I hope these sanctions end as soon as possible so that Iran can decide what to do with its oil money, and that wouldn't be a limited set of products of one specific country.

How do you intend to pay for other goods from other alternative countries when you are facing sanctions?

 

[SirHatesALot]

How do you intend to pay for other goods from other alternative countries when you are facing sanctions?

I think they know they have no other options but its hardly good for Iran.

 

[illusion8]

I think they know they have no other options but its hardly good for Iran.

The problem is not India's making - it's just the circumstances.

 

[Serpentine]

How do you intend to pay for other goods from other alternative countries when you are facing sanctions?

That's what I said in my post, the only way is to ease sanctions on central bank of Iran and other major companies.

 

[Armstrong]

No buddy, It's only good for India, not Iran.It will reduce Iran's bargaining power for importing goods, it forces Iran to neglect some other high quality goods on the market and consider the Indian equivalent. I hope these sanctions end as soon as possible so that Iran can decide what to do with its oil money, and that wouldn't be a limited set of products of one specific country.

Perhaps a limited Currency Swap Agreement would've been better !

 

[sree45]

Exploit them while we can.

Its not called exploiting. We aren't taking anything for free. We are paying them.

 

[Rajaraja Chola]

Its a good for both India and Iran.
Iran now can buy anything from India in rupees.
And now we can pay for oil in rupees, putting less pressure on dollar outflow, putting less presssure on value of rupee. Infact if we increase oil import from Iran at this juncture, we can prevent more outflow of dollar, easing the pressure on rupee, and rupee can gain more.
Iran can also look the possibility of importing other items through India.

 

[BATMAN]

Its a good for both India and Iran.
Iran now can buy anything from India in rupees.
And now we can pay for oil in rupees, putting less pressure on dollar outflow, putting less presssure on value of rupee. Infact if we increase oil import from Iran at this juncture, we can prevent more outflow of dollar, easing the pressure on rupee, and rupee can gain more.
Iran can also look the possibility of importing other items through India.

Will you refuse, to sell in USD?

Can some one explain me this strange type of so called sanctions? You are permitted to sell in Indian currency and you are forced to buy only from India?