Markets

Iran warns India of curtailing special privileges if oil imports reduced

Iran warns India of curtailing special privileges if oil imports reduced

"Sanction and financial threats have turned into opportunity for us, because they have led to self-reliance and strength of domestic capacities which can be a model for all other freethinking countries", Hatami remarked.

In an address at a seminar on Tuesday, Rahaghi said Iran will end the privileges being provided to India if it tries to source oil from countries like Saudi Arabia, Russia, Iraq, the United States and others to offset cuts in Iranian oil import.

In May, the United States pulled out of a multinational deal that lifted many sanctions against Iran in return for curbs to its nuclear program.

China and India alone imported around 1.4 million bpd of Iranian oil each, Shana added.

US officials said in June they would push countries to reduce their Iranian oil imports to zero.

The newspaper also pointed out that US President Donald Trump recently asked Saudi Arabia to pump at least 2 million more barrels a day, but received a reply that stopped short of a commitment to do so.

"Iran has always been a reliable energy partner for India and others, seeking a balanced oil market and rational prices of oil which ensure the interests of both countries as consumer and supplier", the embassy said in a statement. "Recent purchases of USA crude and liquefied natural gas are just a couple of examples of this potential" Haley had said on her visit to India for a meeting with PM Modi on the same.




President Donald Trump said in May he would pull the United States out of an worldwide nuclear deal with Iran and reimpose U.S. sanctions.

The Chabahar port is being considered a gateway to golden opportunities for trade by India, Iran and Afghanistan with central Asian countries in the wake of Pakistan denying transit access to New Delhi. Pompeo said that the USA would consider waivers for certain countries that wish to import Iranian oil, but added that Washington is determined to take a hard line on Tehran. And we'll make a deal.

Reuters' vessel tracking data show three of the eight tankers charted by Swiss and Chinese traders and sent to India in recent weeks were destined for a port near Reliance Industries Ltd's Jamnagar refinery, the world's largest.

Two more VLCCs - the Ghinah and the Eagle Victoria - were scheduled to leave the Texas coast for undisclosed ports in India this month, bringing planned USA oil exports to India to at least 191,000 bpd for the month.

While most of the lead-up to the North Atlantic Treaty Organisation summit this week in Brussels has centered around President Trump pushing military spending, and potentially being less hostile toward Russian Federation than the other nations prefer, Secretary of State Mike Pompeo has arrived in Brussels with a mission focused heavily on Iran.

Imports by state refiners during the period more than doubled to about 413,400 bpd from 191,700 bpd, the data showed.


  • How Supreme Court Justices Align With Their Presidents

    How Supreme Court Justices Align With Their Presidents

    Both sides have begun airing ads and mobilizing voters for a long summer confirmation battle that will stretch into the fall. Manchin is one of five Senate Democrats trying to get reelected in November in a state Trump won by double digits.
    National Football League  player Pacman Jones attacked by employee at airport

    National Football League player Pacman Jones attacked by employee at airport

    According to TMZ Sports , ABM employee Frank Ragin "made a gesture" toward Jones that resulted in Jones confronting him. The Bengals star calls out Ragin, who according to police, went after Jones and initiated the physical altercation.
    Southgate delighted with England support after 20 years of hurt

    Southgate delighted with England support after 20 years of hurt

    Ian Broudie and co will treat fans to a live performance of their iconic football anthem before England's World Cup game. He wants them to keep pushing, no matter where it ends.
  • Partisan Divide Deepens Over Trump’s Supreme Court Pick

    Partisan Divide Deepens Over Trump’s Supreme Court Pick

    White House and Senate aides said McConnell suggested Kyl for the role, and White House counsel Don McGahn offered Kyl the job. But: Jones sounded skeptical of Kavanaugh in an initial statement, saying he'll thoroughly vet Kavanaugh's background.

    SpaceX to launch Israeli spacecraft to the moon

    Along with Kahn, the Israeli Space Agency and US megadonor casino tycoon Sheldon Adelson are funding SpaceIL. The first-ever Israeli moon mission will launch before the end of the year, if all goes according to plan.
    Roger Federer stunned at Wimbledon by Kevin Anderson

    Roger Federer stunned at Wimbledon by Kevin Anderson

    The Serbian beat Kei Nishikori 6-3 3-6 6-2 6-2 to reach his first semi-final at any of the four tennis majors since the US Open in 2016.
  • India Begin England Tour With A Fine Win In T20I Series

    India Begin England Tour With A Fine Win In T20I Series

    Their last bilateral series' defeat came in India in January 2017, with only a freak one-off loss to Scotland in the interim. England captain Eoin Morgan and India captain VIrat Kohli . "I'm expecting nothing else but a high scoring series as well".

    Korea approves rare screening of N. Korea films

    Joint U.S. -North Korean military search teams recovered 229 sets of American remains from North Korea between 1996 and 2005. The U.S. was also supposed to receive the remains of servicemen killed in the Korean War of the early 1950s.
    Donald Trump visit to United Kingdom  ‘in turmoil’

    Donald Trump visit to United Kingdom ‘in turmoil’

    Donald Trump will be accompanied by as many as 1,000 staff, a motorcade and multiple helicopters during his United Kingdom trip. The request as Trump is expected to meet with multiple protests during his first visit to the country since taking office.
  • First Visuals Of Thai Boys In Hospital After Being Rescued From Cave

    First Visuals Of Thai Boys In Hospital After Being Rescued From Cave

    They were found dishevelled and emaciated but alive on a muddy ledge 4km inside the cave nine days after they went missing. Even so, all need to be monitored in the hospital for seven days and then rest at home for another 30 days, he said.
    Incredible Moment Of Sportsmanship As Rafa Nadal Into Wimbledon Semi

    Incredible Moment Of Sportsmanship As Rafa Nadal Into Wimbledon Semi

    There was a look of glee in Del Potro's sometimes sad eyes, and his lumbering between-points walk had a bit more energy to it. The twice champion broke back but squandered four set points in the second set tiebreak, with a double fault on one of them.
    Rangers announce EIGHTH summer signing as Steven Gerrards bolsters squad

    Rangers announce EIGHTH summer signing as Steven Gerrards bolsters squad

    Coulibaly told Rangers TV. "But I'm confident that come kick-off the players will be ready to go". Across all competitions for Angers, Coulibaly made just 23 appearances and scored only one goal.