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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    India stopped shipments of Iranian oil because of US sanctions on the mullahs

    Rocky
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    • Post n°1

    India stopped shipments of Iranian oil because of US sanctions on the mullahs Empty India stopped shipments of Iranian oil because of US sanctions on the mullahs

    Post by Rocky Fri 15 Jun 2018, 7:45 am

    India stopped shipments of Iranian oil because of US sanctions on the mullahs
    June 15 2018 02:50 PM
    India stopped shipments of Iranian oil because of US sanctions on the mullahs 6201815145018422510401
    [rtl][rtl]Central Bank of India[/rtl]
    [/rtl]
    Baghdad Post
    [rtl]


    The head of the Indian Petroleum Corporation, on Friday, that the decision of the Central Bank of India to stop shipments of Iranian oil to India, will adversely affect the institution. 

    "The loading of oil will be affected by the end of August, under the current mechanism, unless a new payment track is created," an official at the Indian Oil Corporation said. 

    The State Bank of India has yet to respond to requests for comment.

    The move came from India's state-controlled bank after US President Donald Trump withdrew from the nuclear deal with Iran on May 8, saying he would reinstate sanctions within 180 days.

    Local refiners use the State Bank, the country's largest bank, and the European-Iranian Bank, based in Germany, to pay for Iranian oil purchases in euros.

    Reliance Industries, the owner of the world's largest refinery, plans to stop importing oil from Iran, while Nayara Energie, a subsidiary of Russia's Rosneft, plans to cut its purchases from this month, .

    India, the biggest buyer of Iranian oil after China, was among a few countries that continued to trade with Tehran under sanctions, but cut its crude imports to get an exception from US sanctions.

    India says it does not comply with US sanctions, but companies and banks with ties to the US financial system could face sanctions if they did not comply.
     

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