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Caught between US pressure and need for oil

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Caught between US pressure and need for oil Empty Caught between US pressure and need for oil

Post by charvaka Mon Aug 01, 2011 12:00 am

India was under lots of US pressure to enforce international sanctions against Iran. The country supplied a sizable chunk of our oil, but Uncle Sam didn't like that we were friends with Iran. It looked for a while like India would cave in; RBI was making life difficult for importers who bought Iranian oil, to enforce sanctions against payments to Iran. Iran threatened to halt shipments, and Saudi Arabia stepped in and assuring us that they would make up for the shortfall of supply. In the end though it looks like India opted for the status quo. One thing I am not sure of is how India circumvents sanctions to pay for the oil, and how it will beat back US pressure on this issue on an ongoing basis.

http://www.bbc.co.uk/news/business-14361311
charvaka
charvaka

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Post by charvaka Mon Aug 01, 2011 10:56 pm

The Hindu reports on the topic and argues for continued engagement with Iran at the political level. It seems that they found an alternate payment route through Turkey.

http://www.thehindu.com/opinion/lead/article2314031.ece
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Post by charvaka Mon Aug 01, 2011 11:02 pm

This tale gets curiouser and curiouser.

http://www.bloomberg.com/news/2011-08-01/turkey-not-helping-india-settle-oil-debt-to-iran-mehr-says-2-.html
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