Iran Asks India To Resume Oil Trade, Relax Visas
1 week ago

Iran Asks India To Resume Oil Trade, Relax Visas

ABP News  

The new Iranian administration under President Masoud Pezeshkian is planning to give a renewed push for resumption of oil trade with India even as Tehran is seeking expansion of people-to-people ties with New Delhi by way of visa relaxation, according to a senior Iranian official. We understand why India has to follow the sanctions but trade is falling year-on-year which is not good,” the official said, who refused to be identified The official also said it is a “pity” that Indian refineries, who were operating for decades on Iranian oil, had to adjust with crude sourced from other countries. The official also said India should utilise the Chabahar port to its full potential and can create a connectivity corridor from India passing through Iran and finally accessing the Central Asian and European markets. The official said both India and Iran are now working together to bring to reality the International North-South Transport Corridor with Chabahar port as the main transport hub.

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History of this topic

Iranian minister on visit to Delhi to pitch for resuming energy trade
6 days, 22 hours ago

Iranian minister on visit to Delhi to pitch for resuming energy trade

Hindustan Times  

NEW DELHI: Iran’s deputy foreign minister Majid Takht Ravanchi is on a visit to India for talks aimed at resuming energy trade, which stopped in 2019 because of US sanctions, and exploring options for ramping up non-oil trade. Majid Takht-Ravanchi, the deputy foreign minister for political affairs, is heading the Iranian side in India- Iran political consultations India and Iran …

US sanctions 35 entities & ships for transporting Iranian oil, including 2 Indian firms
1 month ago

US sanctions 35 entities & ships for transporting Iranian oil, including 2 Indian firms

Firstpost  

Two Indian companies are among 35 entities and vessels sanctioned by the United States for transporting Iranian oil In the latest tranche of sanctions on Iran, the United States has imposed sanctions on 35 entities and ships for transporting Iranian oil. The firms sanctioned for transporting Iranian oil include two Indian firms as well. The Treasury said the two companies …

week high as Russia, Iran tensions support prices
1 month, 2 weeks ago

week high as Russia, Iran tensions support prices

Live Mint  

* Iran to hold nuclear talks with European powers on Nov 29 * China's crude imports to rebound in Nov * India refining throughput up 3% year-on-year for Oct By Florence Tan SINGORE, - Oil prices hovered near two-week highs on Monday following 6% gains last week, as geopolitical tensions heightened between western powers and major oil producers Russia and …

Why Iranian envoy thinks US won’t impose sanctions on India over Chabahar port
7 months, 3 weeks ago

Why Iranian envoy thinks US won’t impose sanctions on India over Chabahar port

Hindustan Times  

NEW DELHI: After India and Iran signed a long-term agreement for expanding Indian operations at Chabahar port, the US warned that all entities engaging in business deals with Iran face the “potential risk of sanctions”. Iranian ambassador Iraj Elahi said the importance of India would prevent any side from imposing sanctions on India over the Chabahar port deal Responding to …

No sanctions against India for purchasing, refining Russian oil: U.S. Treasury officials
9 months ago

No sanctions against India for purchasing, refining Russian oil: U.S. Treasury officials

The Hindu  

April 04, 2024 07:55 pm | Updated 09:51 pm IST - NEW DELHI Striking a conciliatory note on India’s imports of Russian oil, U.S. Treasury department officials visiting Delhi said on April 4 that the aim of U.S. sanctions and the oil “price cap” was not to limit the purchase of Russian ‘Ural’ oil, but to limit the revenues made …

The turning tides of US sanctions: India caught between a rock and a hard place
1 year ago

The turning tides of US sanctions: India caught between a rock and a hard place

Live Mint  

The recent escalation of US sanctions against Russia seems to have significant consequences for the Indian market. In the context of the US' secondary sanctions targeting Russia, India too can resort to such countermeasures to provide an avenue of insulation for its fiscal priorities and market interests. Forms of countermeasures Bilateral negotiations and conditional waivers The US government can authorize …

Iran offers China-style strategic deal for India
2 years ago

Iran offers China-style strategic deal for India

Live Mint  

Iran has offered India a strategic cooperation pact on the lines of a deal it signed with China in 2021, two people aware of the matter said, as the sanctions-hit country tries to attract investments in its energy and infrastructure sectors. Iran has offered a similar deal to India to attract Indian investments and develop its transport and energy infrastructure, …

U.S. imposes sanction against Indian petrochemical company for ‘clandestine’ Iran oil purchases
2 years, 3 months ago

U.S. imposes sanction against Indian petrochemical company for ‘clandestine’ Iran oil purchases

The Hindu  

In the first such move against oil shipments to India, the U.S. Treasury department announced it had imposed sanctions against a Mumbai based petrochemical company amongst several entities accused of selling Iranian petroleum products. “Today’s action targets Iranian brokers and several front companies in the UAE, Hong Kong, and India that have facilitated financial transfers and shipping of Iranian petroleum …

US imposes sanctions on Indian company over alleged Iran oil deal
2 years, 3 months ago

US imposes sanctions on Indian company over alleged Iran oil deal

India TV News  

US sanctions Indian company: In what is likely the first action against an Indian company for allegedly dealing in Iranian petroleum products, the US Treasury Department has imposed sanctions on Mumbai-based Tibalaji Petrochem Private Limited. The sanctions came shortly after India's External Affairs Minister S. Jaishankar wrapped up his visit to Washington where he met several top officials, including Secretaries …

Data | Will Iran make a comeback as India’s major crude oil import partner?
2 years, 3 months ago

Data | Will Iran make a comeback as India’s major crude oil import partner?

The Hindu  

On the sidelines of the Shanghai Cooperation Organization summit, Indian Prime Minister Narendra Modi and Iranian President Ebrahim Raisi are likely to discuss the revival of oil imports from Iran. However, in FY23, the U.S.’s share in India’s oil imports halved and Russia became the third-biggest source. Russia’s share in India’s crude oil imports was close to 14% in FY23. …

For India, the buzzword now is ‘all-alignment’
2 years, 3 months ago

For India, the buzzword now is ‘all-alignment’

The Hindu  

In his book The India Way, External Affairs Minister S. Jaishankar offers a critique of India’s traditional policy of “non-alignment” where he distinguishes between the “optimistic non-alignment” of the past, which he feels has failed, that must give way to more realistic “multiple engagements of the future”. He writes, “This is a game best played on the front foot, appreciating …

Iran likely to nudge India on oil imports
2 years, 3 months ago

Iran likely to nudge India on oil imports

The Hindu  

Iran will nudge India towards reviving its procurement of discounted Iranian sweet crude during a meeting between Prime Minister Narendra Modi and Iranian President Ebrahim Raisi that is likely to take place this Friday on the sidelines of the Shanghai Cooperation Organisation summit in Samarkand. This will be the first time the two leaders will meet since Mr. Raisi’s election …

Iran’s president says oil exports have doubled since August
2 years, 7 months ago

Iran’s president says oil exports have doubled since August

Associated Press  

TEHRAN, Iran — Iran’s president said Monday the country is exporting twice as much oil as when he took office in August, despite heavy sanctions on oil exports imposed by the U.S. Ebrahim Raisi made the claim in a live interview on state-run TV without elaborating, including on the amount of oil being exported. “We are not worried about oil …

India not violating any sanctions by importing oil from Russia: United States
2 years, 8 months ago

India not violating any sanctions by importing oil from Russia: United States

India TV News  

Highlights US says India is not violating any sanctions by importing oil from Russia The statement came after PM Modi-Joe Biden's virtual meeting White House said that the talks between two leader were constructive India is not violating any sanctions by importing oil from Russia, the United States said on Monday as the two leaders -- PM Modi and President …

US warns India against increasing oil imports from Russia, says ‘great risk’
2 years, 9 months ago

US warns India against increasing oil imports from Russia, says ‘great risk’

Hindustan Times  

As Russian foreign minister Sergey Lavrov arrives in India amid the Russia-Ukraine war continuing with no sign of abatement, the United States said India should not increase its oil imports from Russia and it could expose New Delhi to a "great risk". According to a Reuters report, the US apparently has no objection to India buying discounted Russian oil as …

Iran offers to meet India's energy needs by relaunching rupee-rial trade for export of oil and gas
2 years, 9 months ago

Iran offers to meet India's energy needs by relaunching rupee-rial trade for export of oil and gas

Firstpost  

Iran used to be India’s second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports Mumbai: Iran has offered to help India meet its energy needs by relaunching rupee-rial trade for export of oil and gas, said Iranian …

India buys Russian oil despite pressure for sanctions
2 years, 9 months ago

India buys Russian oil despite pressure for sanctions

Associated Press  

NEW DELHI — The state-run Indian Oil Corp. bought 3 million barrels of crude oil from Russia earlier this week to secure its energy needs, resisting Western pressure to avoid such purchases, an Indian government official said Friday. The official said India has not imposed sanctions against buying oil and will be looking to purchase more from Russia despite calls …

Russia offers more oil to India
2 years, 9 months ago

Russia offers more oil to India

The Hindu  

Beleaguered by sanctions from the western countries and a ban on fuel exports to the United States, Russia is keen to increase its oil and petroleum product exports to India and India’s investments in the Russian oil sector, Russian Deputy Prime Minister Alexander Novak conveyed to Petroleum Minister Hardeep Puri on Friday. “Russia’s oil and petroleum product exports to India …

India to resume buying oil from Iran once U.S. sanctions ease
3 years, 9 months ago

India to resume buying oil from Iran once U.S. sanctions ease

The Hindu  

India will look to resume buying crude oil from Iran the moment U.S. sanctions are eased, helping it diversify its import basket, a senior government official said. India stopped importing oil from Iran in mid-2019 following sanctions on the Persian Gulf nation by the Trump administration. "Once the sanctions are lifted, we can look to resume oil imports from Iran," …

India Merchants Almost Halt Exports to Iran as Its Rupee Reserves Fall: Report
3 years, 10 months ago

India Merchants Almost Halt Exports to Iran as Its Rupee Reserves Fall: Report

News 18  

Indian merchants have almost entirely stopped signing new export contracts with Iranian buyers for commodities such as rice, sugar and tea, due to caution about Tehran's dwindling rupee reserves with Indian banks, six industry officials told Reuters. Iran's rupee reserves in India's UCO and IDBI Bank, the two lenders authorised to facilitate rupee trade, have depleted significantly and exporters are …

Indian Refiners Would Resume Iranian Oil Imports if US Sanctions Eased: HPCL Chief
3 years, 11 months ago

Indian Refiners Would Resume Iranian Oil Imports if US Sanctions Eased: HPCL Chief

News 18  

Indian refiners would resume imports of Iranian oil if the United States eases sanctions against Tehran, the chairman of state-run Hindustan Petroleum Corp said on Thursday. India, which was Iran’s top oil client after China, had stopped oil imports from the OPEC nation in mid-2019 under pressure from the stringent sanctions imposed by former US President Donald Trump. On Monday, …

Iran’s payment default leaves rice traders apprehensive about further export
5 years ago

Iran’s payment default leaves rice traders apprehensive about further export

Hindustan Times  

With Iran failing to clear their pending dues for the last eight months, rice traders in Haryana are reluctant to export this season’s produce to the country, fearing more defaults. HT Image This development is likely to affect rice traders of the country, especially Haryana, adversely as Iran is the biggest consumer Indian aromatic Basmati rice as it imports about …

Rosneft steps in to help India fill gap in oil supply
5 years, 3 months ago

Rosneft steps in to help India fill gap in oil supply

Live Mint  

Russia’s largest oil company Rosneft PJSC will assist India with its energy security efforts against the backdrop of the drone attacks on Saudi Arabian Oil Co., or Saudi Aramco, that have caused the biggest-ever disruption in global crude oil supplies, Igor Sechin, chairman of Rosneft, conveyed during his meeting with India’s oil minister Dharmendra Pradhan on Tuesday in New Delhi. …

Iran-US tensions: 'Highly gratified' by cooperation from 'great friend' India on Iranian sanctions, says White House
5 years, 5 months ago

Iran-US tensions: 'Highly gratified' by cooperation from 'great friend' India on Iranian sanctions, says White House

Firstpost  

The US is “highly gratified” by the cooperation from a “great friend” like India in enforcing the oil sanctions on Tehran, the White House said on Wednesday as the Trump administration slapped sanctions on Iranian Foreign Minister Javad Zarif Washington: The US is “highly gratified” by the cooperation from a “great friend” like India in enforcing the oil sanctions on …

Ties with Iran not influenced by any third country: India
5 years, 6 months ago

Ties with Iran not influenced by any third country: India

India TV News  

India on Wednesday said its ties with Iran stand on their own and are not influenced by any third country, an assertion which came in the wake of US sanctions on import of Iranian oil. After six-month-long exemptions from US sanctions to buy oil from Iran ended in May, India said it will deal with the issue based on three …

Expect a friend to understand: Hope India will act in its national interest, says Iran on oil imports
5 years, 6 months ago

Expect a friend to understand: Hope India will act in its national interest, says Iran on oil imports

India Today  

Amid US sanctions, Iran on Tuesday said it believes India will act in its national interest on the issue of oil imports and Tehran can act as a "protector" of India's energy security. His remarks assume significance as they come days after US Secretary of State Mike Pompeo had assured India that America is "doing everything" to ensure crude oil …

Iran hopeful India will act in its national interest on oil imports issue
5 years, 6 months ago

Iran hopeful India will act in its national interest on oil imports issue

India TV News  

Amid US sanctions, Iran on Tuesday said it believes India will act in its national interest on the issue of oil imports and Tehran can act as a "protector" of India's energy security. His remarks assume significance, as they come days after US Secretary of State Mike Pompeo, had assured India that America is "doing everything" to ensure crude oil …

US Secretary of State Pompeo promises to ensure oil supplies to India after Iranian crude ban
5 years, 6 months ago

US Secretary of State Pompeo promises to ensure oil supplies to India after Iranian crude ban

Live Mint  

US secretary of state Michael Richard Pompeo on Wednesday night promised India of adequate crude oil supplies even as India, the world's third-largest oil importer, has been trying to buffer its consumers from the spike in global prices. However, with the US’s conditional waiver for Iranian oil imports to eight countries, including China and India, expiring on 2 May, India …

Iran sanctions: Indian Oil is stepping up imports of US and Saudi crude
5 years, 6 months ago

Iran sanctions: Indian Oil is stepping up imports of US and Saudi crude

CNN  

London CNN Business — US sanctions have forced a leading purchaser of Iranian crude exports to buy more oil from Saudi Arabia and the United States. Sanjiv Singh, head of state-run refiner Indian Oil Corporation, told CNN Business that “whatever supplies were coming from Iran, they were well distributed amongst other countries.” Iran had been the third largest supplier of …

Iran-US standoff: A policy challenge for India
5 years, 7 months ago

Iran-US standoff: A policy challenge for India

Deccan Chronicle  

One of the immediate challenges faced by new external affairs minister Subrahmanyam Jaishankar and his team would be to chart a safe course for India’s continued stable relations with Iran in the face of increasing pressure from the United States, Israel and some friendly Arab countries to assume a more anti-Tehran posture. India’s ambassador to the US Harsh Shringla said …

India stopped purchasing Iranian oil after US waivers expired: Envoy
5 years, 7 months ago

India stopped purchasing Iranian oil after US waivers expired: Envoy

India TV News  

India has stopped importing oil from Iran after American waivers granted to eight buyers expired early this month, New Delhi's envoy here has said, becoming the latest country to comply with the US sanctions on Tehran over its nuclear programme. To reduce Iran's crude oil export to zero, the US ended on May 2 waivers that had allowed the top …

Slippery slope: on India and Iran developments
5 years, 7 months ago

Slippery slope: on India and Iran developments

The Hindu  

Iranian Foreign Minister Javad Zarif was in New Delhi this week as part of a regional outreach that includes Russia, China, Turkmenistan and Iraq amid rising tensions in West Asia. It has recalled all non-emergency diplomatic staff based in neighbouring Iraq; sent an aircraft carrier, the USS Abraham Lincoln, missile defence hardware and B-52 bombers to the Gulf; imposed fresh …

Sushma Swaraj holds talks with Iranian counterpart, decision on Iran oil import after elections
5 years, 7 months ago

Sushma Swaraj holds talks with Iranian counterpart, decision on Iran oil import after elections

India Today  

Iranian Foreign Minister Javad Zarif visited India as part of diplomatic outreach that Tehran is carrying out with all its important partners. The visit comes after New Delhi stopped Iranian oil import since this month in wake of the renewed US sanctions and lifting of waivers for select countries, including India. Sources said that New Delhi conveyed to Tehran that …

India, Iran discuss Afghanistan, regional situation
5 years, 7 months ago

India, Iran discuss Afghanistan, regional situation

Deccan Chronicle  

New Delhi: External Affairs Minister Sushma Swaraj on Tuesday told visiting Iranian Foreign Minister Javad Zarif that India would take a decision on continuing oil imports from Iran "after the elections keeping in mind our commercial considerations, energy security and economic interests", Government sources said on Tuesday. The ministry of external affairs meanwhile only issued a brief statement, saying Ms …

U.S. curbs: India to decide on Iran crude imports after polls
5 years, 7 months ago

U.S. curbs: India to decide on Iran crude imports after polls

The Hindu  

India will take a call on purchase of Iranian energy after the general election, External Affairs Minister Sushma Swaraj told her Iranian counterpart Javad Zarif in New Delhi on Tuesday. “On purchase of oil from Iran, External Affairs Minister reiterated the position that a decision will be taken after the elections keeping in mind our commercial considerations, energy security and …

China and India seen as Europe’s last hope to save Iran deal
5 years, 7 months ago

China and India seen as Europe’s last hope to save Iran deal

Live Mint  

The European Union will defend the Iran nuclear accord despite Tehran's decision to backtrack on its commitments in response to the US sanctions, diplomats believe, but European powers expect it to collapse without a deal to sell Iranian oil to China or India. A French diplomat talked of a "negative spiral" in which trade in food and medicines was simply …

india wont be able to export crude oil from iran after us sanctions kicked in, crude oil from the us is more expensive
5 years, 8 months ago

india wont be able to export crude oil from iran after us sanctions kicked in, crude oil from the us is more expensive

The Hindu  

India will be hit by the Trump administration's decision to end waivers that allowed the import of crude oil from Iran without facing U.S. sanctions. India's top crude oil importers Contrasting fortunes There has been a huge rise of 734% of global crude oil exports from the United States from 2013 to 2017. Iran's crude oil exports dipped in 2013 …

US cannot ensure crude sale to India at concessional rate: Wilbur Ross
5 years, 8 months ago

US cannot ensure crude sale to India at concessional rate: Wilbur Ross

Live Mint  

The US Monday said it cannot ensure the sale of its crude oil to India at concessional rates to make up for the cheaper Iranian oil going out of the market. "Oil is owned by private people, so the government cannot force people to make concessionary price," US Commerce Secretary Wilbur Ross, who is here to participate in a trade …

US Sanctions on Iranian Oil: The Reasons and Challenges Explained
5 years, 8 months ago

US Sanctions on Iranian Oil: The Reasons and Challenges Explained

The Quint  

Without a doubt, Iran. China and India are the two biggest importers of Iranian oil, and oil exports are one of Iran’s main sources of revenue. China and India will feel the biggest pinch since Iran supplies a substantial amount of their oil needs, which have been increasing steadily the last few decades. India used to import more oil from …

Iraq remains top oil supplier to India
5 years, 8 months ago

Iraq remains top oil supplier to India

The Hindu  

Iraq has, for the second year in a row, become India’s top crude oil supplier, meeting more than a fifth of the country’s oil needs in 2018-19 fiscal year. India provisionally imported 207.3 mt of crude oil in 2018-19, down from 220.4 mt in the previous financial year. While India stopped importing crude oil from Iran following reimposition of economic …

Govt apprehensive Trump administration's sanctions on Iran could boost oil prices, inflation
5 years, 8 months ago

Govt apprehensive Trump administration's sanctions on Iran could boost oil prices, inflation

Firstpost  

Washington: US sanctions on Iran could boost oil prices and inflation to a point that hurts the common person in India, the country’s ambassador to the United States said on Tuesday, after the Donald Trump administration said it would end waivers for Iran’s oil buyers. “We are apprehensive that that impact can translate into inflation, higher oil prices,” that could …

Will Iranian oil shutdown hurt India?
5 years, 8 months ago

Will Iranian oil shutdown hurt India?

Firstpost  

What happens after May 1, when the US waiver for India and other major importers of Iranian oil runs out? Unlike China, Iran’s biggest buyer of oil, and Turkey, another major customer, India has neither expressed anger nor anguish at American heavy-handedness. Why do other countries have to obey your unilateral decisions?” So, what’s with the metaphorical shrug from India, …

US ends waiver on Iran oil imports: India must now scout for cheaper oil from other sources to avoid a crisis
5 years, 8 months ago

US ends waiver on Iran oil imports: India must now scout for cheaper oil from other sources to avoid a crisis

Firstpost  

Higher oil prices would cause reworking of our economic indicators and policy. Iran is the fourth largest supplier of oil to India and hence, the removal of ‘waiver on the ban of imports’ from Tehran is a matter of concern for us. Iran has a share of around 9-10 percent in India’s oil imports and hence, it would be essential …

India may stop oil imports from Iran
5 years, 8 months ago

India may stop oil imports from Iran

The Hindu  

Petroleum Minister Dharmendra Pradhan on Tuesday said the country plans to increase imports from major oil producing nations other than Iran, indicating that it will be acceding to the U.S. plan to reduce Iran’s oil exports to zero, a move criticised by the Congress. Failure of Modi’s diplomacy, says Congress Mr. Pradhan said that the government has put in place …

In an oil slick: On Iran sanctions
5 years, 8 months ago

In an oil slick: On Iran sanctions

The Hindu  

Faced with the U.S.’s intransigent demand that all countries put a full stop to oil imports from Iran or face sanctions, the Indian government has indicated it will ‘zero out’ oil imports after the May 2 deadline. The U.S. has made it clear that Indian companies that continue to import oil from Iran would face severe secondary sanctions, including being …

India will stop importing crude oil from Iran after US ends sanction waiver: Official
5 years, 8 months ago

India will stop importing crude oil from Iran after US ends sanction waiver: Official

Live Mint  

New Delhi: India will stop importing crude oil from Iran following the US move to end sanction waivers, and will use alternate supply sources such as Saudi Arabia to make up for the lost volumes, top officials and industry sources said Tuesday. It bought some 24 million tonnes of crude oil from Iran in the fiscal ended March 31. But …

Iran oil sanctions: Asian countries need to find new sources of oil
5 years, 8 months ago

Iran oil sanctions: Asian countries need to find new sources of oil

CNN  

Dubai CNN Business — Asia’s biggest economies are scrambling to find new sources of oil after the United States said it would no longer grant exemptions to sanctions on Iranian crude exports. The Trump administration on Monday indicated that the United States, Saudi Arabia and the United Arab Emirates would make sure “global oil markets remain adequately supplied.” But it …

Iran sanctions send oil prices, supply concerns higher
5 years, 8 months ago

Iran sanctions send oil prices, supply concerns higher

Associated Press  

NEW YORK — The Trump administration’s decision to impose sanctions on countries that buy Iranian oil is raising concerns about global crude supply and sending oil prices to their highest levels since October. “It’s difficult to imagine all exports being cut off, especially since China is still a major buyer of Iranian crude oil,” said Jim Burkhard, vice president for …

U.S. ends waiver for India on Iran oil
5 years, 8 months ago

U.S. ends waiver for India on Iran oil

The Hindu  

The U.S. will not renew exemptions from its sanctions for importing oil from Iran, U.S. Secretary of State Mike Pompeo announced on Monday. The Trump Administration has taken Iran’s oil exports to historic lows, and we are dramatically accelerating our pressure campaign in a calibrated way that meets our national security objectives while maintaining well supplied global oil markets,” Mr. …

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