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On Iran ban, this is how India could assert its sovereignty without miffing US
Mon, Nov 12, 2018
Most experts say a law like the EU Blocking Statute, which protects individuals and companies of EU member states from the “extra-territorial” US sanctions, holds more merit than a waiver.
Factbox: The knowns and unknowns of U.S. Iran oil sanction waivers
Fri, Nov 09, 2018
The United States on Monday re-imposed sanctions against Iran`s oil exports to punish Tehran for its involvement in several Middle Eastern conflicts.
US exempts India from certain sanctions for development of strategic Chabahar Port in Iran
Wed, Nov 07, 2018
The United States has exempted India from imposition of certain sanctions for the development of the strategically-located Chabahar Port in Iran, along with the construction of the railway line connecting it with Afghanistan, a State Department spokesperson said.
Oil prices drop over two percent on Iran sanctions waivers
Wed, Nov 07, 2018
prices fell on Tuesday, with U.S. crude futures sliding to an eight-month low, a day after Washington granted sanction waivers to top buyers of Iranian oil and as Iran said it had so far been able to sell as much oil as it needs to sell.
Saudi, Russian oil output unable to compensate for Iranian crude: Iran Oil Minister Zanganeh
Mon, Oct 22, 2018
Washington is pushing allies to cut imports of Iranian oil to zero and will impose a new round of sanctions on Iranian oil sales in November.
Rules tweaked even as India set to get strategic Chabahar port in Iran
Mon, Oct 15, 2018
The looming US sanctions on Iran have put the deal for Chabahar port between India and Iran on the fast track. The two countries are working on amending the clause that mandates activation of the deal after receiving funding from India.
Traders bet on oil at $100 as Iran sanctions loom
Thu, Oct 04, 2018
Oil traders have piled into wagers that U.S. crude oil could surge to $100 a barrel by next year, a milestone that until recently many considered unthinkable due to record U.S. production growth and relatively flat global demand.
India will continue to buy Iran's oil: Iranian foreign minister
Fri, Sep 28, 2018
India is committed to buying Iranian oil and continuing the two nations` economic cooperation, the Iranian foreign minister said after a meeting with his Indian counterpart and ahead of U.S. sanctions aimed at halting Tehran`s oil exports.
India's Iran oil purchases to fade ahead of US sanctions
Sat, Sep 15, 2018
India's loadings from Iran for this month and next will drop to less than 12 million barrels each, after purchases over April-August had been boosted in anticipation of the reductions.
Oil steady as U.S.-Iran row balances trade worries
Tue, Jul 24, 2018
Oil prices steadied on Tuesday as tension between the United States and Iran highlighted risks to supply and trade disputes raised prospects for slower economic growth and weaker energy demand. Brent crude oil was unchanged at $73.06 a barrel by 1145 GMT. U.S. light crude was 35 cents higher at $68.24.
Iran becomes India's No. 2 oil supplier, ahead of Saudi Arabia
Tue, Jul 24, 2018
Dharmendra Pradhan told lawmakers that India, Iran’s top oil client after China, shipped in 5.67 million tonnes or about 457,000 barrels per day ( bpd ) of oil from the country in the first three months of this fiscal year.
Brent crude prices trade below $73 as tensions escalate between US and Iran
Tue, Jul 24, 2018
Brent crude oil was down 10 cents, or 0.14 percent, at $72.96 a barrel by 0037 GMT, after settling down 1 cent on Monday. U.S. crude was down 9 cents, or 0.13 percent, at $67.80 a barrel. The contract fell 37 cents the previous day.
OPEC deal does not give the right to pump oil above target: Iran tells Saudi Arabia
Mon, Jul 16, 2018
Iranian OPEC Governor Hossein Kazempour Ardebili is due to attend a meeting for a joint OPEC, non-OPEC monitoring committee in Vienna on Wednesday, two OPEC sources said. The committee, known as the JTC and chaired by Saudi Arabia, looks at the compliance level to the production pact.
US order fallout: India's Oil imports from Iran plunge 16% in June
Thu, Jul 12, 2018
In June, India imported 592,800 barrels per day (bpd) of oil from Iran compared to 705,200 bpd in May, the data showed. The sources declined to be identified.
US prepared to work with nations reducing oil imports from Iran
Tue, Jul 03, 2018
Last month President Donald Trump withdrew the United States from the landmark Iran nuclear deal, re-imposing US sanctions that had been suspended in return for curbs on Tehran's nuclear programme.
India preparing for cut in oil imports from Iran
Thu, Jun 28, 2018
India has said it does not recognize unilateral restrictions imposed by the U.S., and instead follows U.N. sanctions. But the industry sources said India, the biggest buyer of Iranian oil after China, will be forced to take action to protect its exposure to the U.S. financial system.
Nitin Gadkari says India trying to make Chabahar Port operational by 2019
Fri, Jun 22, 2018
Speaking about the efforts and initiatives taken by the NDA government in the last four years to bring qualitative change in the lives of people, Gadkari talked about massive work being done in the infrastructure sector, with National Highways being built at an unprecedented pace of 28km/day.
Reliance Industries to halt oil imports from Iran; US sanctions forcing buyers to flee
Wed, May 30, 2018
Mukesh Ambani led Reliance Industries Ltd, owner of the world`s biggest refining complex, plans to halt oil imports from Iran, two sources familiar with the matter said, in a sign that new U.S. sanctions are forcing buyers to shun oil purchases from Tehran.
US sanctions on Iran unfavourable for India, says economist TN Srinivasan
Sun, May 13, 2018
US President Donald Trump has recently announced that America will withdraw from the landmark 2015 accord to curb Iran's nuclear programme and reinstate financial sanctions on the Persian Gulf nation. "Current economic situation, although favourable, is dependent on external economic climate
Oil near multi-year highs as Iran sanctions tighten supply outlook
Fri, May 11, 2018
The global oil market is finely balanced, with top exporter Saudi Arabia and No.1 producer Russia having led efforts to curb oil supply to prop up prices. Benchmark Brent crude was down 20 cents at $77.27 a barrel by 1330 GMT. On Thursday Brent hit $78, its highest since November 2014. U.S. light crude was down 10 cents at $71.26, having touched a 3-1/2 year high of $71.89 on Thursday.