Saturday, March 10, 2012

India to Pay for 45 Percent of Oil Imports in Rupees

India has signed an agreement with Iran to pay for 45 percent of its oil imports in rupee, or equivalent of $4 billion annually. A 70-member Indian delegation visiting Tehran on Saturday was discussing with Iranian officials what products India could send to Iran in exchange for the $4 billion account [IRNA, 10 March].

The two sides did not disclose how India would pay for the remaining 55 percent of its oil imports considering the current sanctions that prompted the rupee payment agreement in the first place. It was also not clear how the crude oil prices, quoted in dollar, would be calculated in rupee considering the Indian control over its currency exchange rates.


Anonymous said...

Rupees are as worthless as Rials.

Anonymous said...

Indian RUPEE is hardly worthless and is now considered a major interchangeable global currency like Yuan. India is poised to be the 3rd largest global economy in about a decade if not sooner as the US and EU decline accelerates.

India is now using Chah-Bahar as its only trade route to the increasingly lucrative markets of Central Asia and Caucasian region. The deadbeat US dollar is now getting totally worthless in Asian trading. Just look up the patterns of Asian trade and see how even China/India/Korea and even Japan trade in bi-lateral currencies and swaps.

The Chinese are quickly off-loading their accumulated roughly 2TRILLION declining US dollars as the warmongering bankrupt economy sinks. This months US largest trade deficit with China/Asia is a good indicator of the future.

Iran's economy is now over 90% tied to Asia, so it makes perfect sense to dump the worthless Euros and deadbeat dollars. India is also a major industrial nation, and Iran is cooperating in many projects in a wide spectrum of sectors. The US is increasingly annoyed with India which even refused to buy, overpriced, inflated and outdated F-35 fighters and went to the French Rafale. Indians are not Arabs that can be forced to buy US junk. Neither is Iran.

One of the reasons for US/Zionist animosity towards Iran is the thraet to the US dollars hegemony in the Persian Gulf regions where even the Arab pimpdoms are worried about too much exposure to the high risk dollar. If the OIL infrastructure in the Persian Gulf is destabilized in case of a suicidal conflict the battered US dollar and Euro will simpy collapse and speculators run like hell from OIL IMPORTING west and buy Asian currencies including the RUPEE which has gained over 27% aginst the deadbeat dollar in the last two years.

It may help to do some factual analysis before posting childlike comments simply borne from one-dimensional Iran hate. Secondly, the so-called sanctions, mostly self-defeating for the bankrupt US and the loser west under Zionist control will not bend Iran but make it stronger. Iranians are resilient people and will not bend. Watch the future and learn.

Anonymous said...

Anon 1:40 PM

The French doesn't agree with you since they are now accepting Rupees as part of the deal to supply 126 Medium Multi-Role Combat Aircraft (MMRCA) to the Indian Air Force and that's unusual, considering that the France normally (and preferably) accept financial transactions in the form of USD Dollars or Euro only.

Anonymous said...

Thats good to stop the monopoly of the Dollar.

Anonymous said...

With the economic decline and uncertainty in the weat, most Asian coutries are doing trade in their own currencies.. This makes for a good prospect for regional integration and peace as they'll all share a common interest.

The west are their own worse enemies.. If only their leaders will do what's in their national interest and not what Tel Aviv tells them.. As western economies declines, Tel Aviv's ficticious "concerns" will not take center stage in their foreign policy and that's where dual national Israeli citizens will need to dust off their second passport and de-Aliyah themselves from the occupied territories.

Anonymous said...

The Dollar never will decline and the rial is worthless as your comments.
India is a slave economy based on very cheap labor likewise China.All built with US money and know how for without it China still will be a third world communist state with nothing more than a bowl of rice each to feed its masses.
The direction the Islamic theocracy is taking Iran is the absolute wrong direction.Very similar to North Korea a failed country like China used to be before president Nixon knocked some sense into their leadership and advised them to be part of the world community.
You dreamers dream of the destruction of the US but fortunately won't happen instead the theocracy in Iran will collapse therefore freeing Iranian people from the imposed oppression created by the regime of gangsters.
And to all you West haters why are you living in the West? Go and live in fascist China or North Korea and stop being a ridiculous hypocrite writing constant rubbish on Uskowi.

Anonymous said...

accepting payment in focal currency rather than dollars is not generally a good practice for Iran.....but at least with India Iran can get rice and other foodstuffs from the Indians.

Much better than Iran's situation with South Korea where all their getting in return for their a bank balance and some second-rate consumer goods.

Anonymous said...

Some of the usual anti-Iran comments display sheer IGNORANCE of global trade or even manufacturing realities. Firstly, Iran does more than foodstuffs trade with India and secondly Korean consumer goods are hardly "junk". Electronic giants like Samsung now even own Sony LED/LCD TV manufacturing and Hyundai scores higher in consumer satisfaction and quality control than Lexus, BMW or technically troubled Mercedes globally and even in the declining US market.

Korea will by-pass ageing Japan in a very short time due to higher productivity and innovation and a relatively youthful educated population.

You Iran bashing ranters really need to get out and travel a bit. A human mind is an awaful thing to waste on sheer hate. Sad indeed.

Anonymous said...

Anon 3:22 AM

This is not about "Iran bashing"but about a thieving lying murdering two bit theocracy that has occupied the land of Iran.
You people need to learn that the regime does not equate to Iran but as an occupier of Iran raping and plundering its natural resources for the exclusive use by mullahs whims to do as they please in the name of their corrupt religious ideology.

Anonymous said...

Seem Iran will be very benefited with India's steel billet buying by rupee, rather than food stuff as predicted by some annons ...

Go ... Iran ... Go!

Anonymous said...

Come on guys you all know that China is shafting Iran over oil sales as regards the deal between Islamic regime and China.
A deal worth $25 Billion over 3 years and in return Iran will receive second rate Chinese goods that will destroy the Iranian production economy.
When I say second rate it means things like clothing shoes electrical home appliances and food stuffs not high tech goods.These second rate goods are not tested like the first rate goods that are exported to US and Europe but the third rate rubbish produced in the back streets of China.
Congratulations Iran!
This is the second Turkmenchi.

Anonymous said...

Lets put it this way Iran is being shafted not only by China but India,Turkey,Qatar,UAE,Russia Pakistan,Egypt,Greece,Lebanon,Syria Afghanistan,Iraq,Venezuela etc fact anywhere this anti Iranian regime does "DEALS" with.
The "DEALS" that do not benefit Iranian nation but instead benefit the gangsters that run the Mafia theocracy and their crooked cronies abroad.

Anonymous said...

Anon 12:42 PM

Yeah "Go...Iran...GO!" and give away our countries resources for nothing so that a criminal regime can remain in power for just a little longer.