India snubs US sanctions on Tehran

[cqo_000]

Source: The Times of India

Jun 1, 2012, 06.07AM IST

NEW DELHI: India on Thursday reiterated that Iran remained its key energy supplier and that any unilateral sanction imposed by the US would not be allowed to impact "legitimate trade interests" between the two nations.

"In a globalized world, sanctions decided unilaterally or regionally can have an impact on the markets. Such measures should not impact on legitimate trade interests," foreign minister S M Krishna said after a meeting with his visiting counterpart Ali Akbar Salehi.

Salehi too said Iran had always been a reliable partner of India and would continue to be reliable in matters related to energy security. He also briefed Krishna on the recent discussions between Iran and the P5+1 in Baghdad on Tehran's nuclear programme. "India has always held that the nuclear issue should be resolved through peaceful diplomacy and the framework of the IAEA provides the best forum to address the technical aspects of the issue," Krishna said.

Read more: http://timesofindia.indiatimes.com/india/India-snubs-US-sanctions-on-Tehran/articleshow/13696763.cms

[xchrom]

1. Du rec. Nt

[MADem]

2. I'll bet they're getting a fantastic deal on Persian oil!

"Legitimate trade interests" is code for "bargain basement pricing!"

[cosmicone]

3. There is no favorable pricing

Iran can also sell the oil in the black market. Once a tanker leaves and pumps oil into an unlisted holding tank in Nigeria or Brunei, the oil can be relabeled and sold.

Saddam sold his oil through Turkey despite sanctions.

What India gets to do is to pay Iran in Rupees instead of US dollars (which have to be routed via a US Bank). Iranians will then purchase goods made in India against those Rupees -- goods that they cannot get from the US or EU due to sanctions.

It is a win-win.

Since US continues to fund terrorist Pakistan, how can it demand loyalty from India?

[MADem]

4. Well...no. At least if we're to believe the Russkies...

http://www.rt.com/news/iran-india-gold-oil-543/

Of course, we have a sourcing conundrum here--the source is RT, and of course they have an agenda, and they're quoting DEBKA, which is reviled here!!! There are also a few TV clips at the link!

No rupees on the table at all--and I'd bet they're getting very favorable pricing.