Indian refining companies will pay him for rupee for crude oil after the imposition of petroleum related restrictions from Iran on November 4. Yuko has come for this payment D. B I have The bank will be used because these two banks have no relation with the US financial system. Sources said that India has also offered to reduce its oil purchases from Iran for the purpose of seeking exemption from the United States to continue its import.
With the exception of oil trade or financing trade with Iran without exemption, India is at risk of losing its relationship with the American financial system. Prior to the sanctions, Iranian oil exports have declined, as many countries have started decreasing oil purchases from them. Indian Oil Corp, Mangalore Refinery and Petro Chemicals and Nayara Energy (formerly Essar Oil) are among the major oil-buying companies from Iran. On the purchase of oil from Iran, the cost of freight is less and 60 days of lending is also available. Sources say that the first choice would be the UCO Bank because they have already had the means of payment during such restrictions. US officials say exemption for buyers like Iran, who buy oil from Iran, can be considered if they promise to make huge amounts of imports and eventually bring it to zero.
India does supply about 10 percent of its import of crude oil from Iran. India has argued that due to the technical condition of many of its refineries, he has to rely enough for a crude on Iran. The cost of export of crude from Iran is also low. India can resist the US sanctions on Iran.
According to a report by the Parliament of India, India can oppose the new sanctions imposed on Iran because it has been following the United Nations arrangements in such cases. In the report of the American Parliament's Investigation and Consultative Unit Congress Research Report (CRS) on September 11, it said that traditionally India only obeys the UN Security Council's sanctions. Apart from this, India is also dependent on Iran for its energy needs. Although the Trump government is negotiating with India on issues related to sanctions on Iran. "India's general situation is that it only follows the restrictions of United Nations Security," the report said. This creates the fear that India can oppose the US sanctions against Iran's purchase of oil. "According to the report," India has long been interested in developing a porter harbor in Iran, The dependence will be reached in Afghanistan and Central Asia. "The report said that India has already started supplying wheat to Afghanistan before the cottage port.
