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India to pay for Iran crude in rupees

 
DoorBert

User ID: 1495371
United States
01/08/2012 02:38 PM

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India to pay for Iran crude in rupees
In the wake of the US decision to impose fresh sanctions against the Islamic Republic that would target its oil exports, India announces plans to pay for the Iranian crude it imports in rupees.

A senior Indian government official, speaking on condition of anonymity, said the issue will be addressed when a multi- disciplinary team visits Tehran on January 16 to discuss uninterrupted supply from the major oil producer, the Press Trust of India reported on Sunday.

Under the proposal, the National Iranian Oil Company (NIOC) will open a rupee account with Indian banks, and can use the money to purchase non-strategic commodities like railway imports.

[link to www.presstv.ir]
cRoSS FiRe

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01/08/2012 02:41 PM
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Re: India to pay for Iran crude in rupees
India leads the list of countries ignoring Iran sanctions

[link to www.deccanherald.com]
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Anonymous Coward
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Canada
01/08/2012 02:43 PM
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Re: India to pay for Iran crude in rupees
This is a clear violation of the U.S. god-given right to impose trading of oil in dollars to everyone else! War!
humanitech
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United Kingdom
01/08/2012 02:45 PM
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Re: India to pay for Iran crude in rupees
In the wake of the US decision to impose fresh sanctions against the Islamic Republic that would target its oil exports, India announces plans to pay for the Iranian crude it imports in rupees.

A senior Indian government official, speaking on condition of anonymity, said the issue will be addressed when a multi- disciplinary team visits Tehran on January 16 to discuss uninterrupted supply from the major oil producer, the Press Trust of India reported on Sunday.

Under the proposal, the National Iranian Oil Company (NIOC) will open a rupee account with Indian banks, and can use the money to purchase non-strategic commodities like railway imports.

[link to www.presstv.ir]
 Quoting: DoorBert


Good for them
WeAreOne

User ID: 7974545
United Kingdom
01/08/2012 02:46 PM
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Re: India to pay for Iran crude in rupees
Is that the 3rd or 4th Country to now move away or about to move away from using the greenback for oil?

The countries ditching the dollar are coming in so fast I'm losing track...
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