India to make oil payment to Iran via Turkey

[Abii]

Its not that we are holding their money, because our oil cos dont have money.But its because of currency issues.IF Iran agrees to Rupee trading, it would have been a done deal years ago.

and what would we do with your money?
we don't want the things India produces.

On the other hand, we need Chinese and South Korean goods and that's why we either trade with their money or outright barter with them. I think India was holding the money to see if Iran would budge and give India the same deal she was giving China.

 

[Abii]

That seems to be the only option left considering the loose cannons in Iran's top regime that have practically transformed all the countries having global reserve currencies as standard, as their enemies.

For future payments, I hope Iranian government has something more productive and business-like for its customers rather than threats to halt oil supplies: Something like a preferred alternate reserve currency that its loose cannot President doesn't blow to smithereens.

Dollar is weakening alright but then either they should accept Rupees as a currency of payment or consider cosying up with the Europeans and Americans.

you Indians are so full of yourselves it's comical

buddy, we don't want your currency! Give me one reason why Iran should take your currency. Chinese Yuan, Turkish Lira and even south Korean moeny are useful for Iran b/c we have a lot of trade with them. We don't buy nearly enough from India to justify billions of dollars worth of Rupees. We would be idiots to take Indian Rupees when we are getting the things we want from other countries. It's up to you guys to find a way out. You have bent over for Uncle Sam and now you're crying b/c Iran doesn't want your currency. you don't go to a store and force them to accept your currency of choice or your method of payment.

As I said before, India was holding the money to see if Iran would give her the same Chinese treatment (trading in Yuan or implementing a barter system).

 

[Abii]

soooo..... india is going to pay with turkish lira?

I don't know but it would make sense.
Iran and Turkey are going to be increasing trade significantly over the next decade. Turkish Lira would be a currency that Iran could use while the Indian Rupee would be useless for Iran as we don't have enough trade to justify it.

 

[somebozo]

How about paying in Saudi Riyals? Iran makes the largest share of yearly pilgrims and Iranian pilgrims are known for spending lavishly. Almost the majority of guest at all luxury hotels are Iranians and they also make up the most shoppers for jewellery and electronics. Vendor go out of their way to put up signboards in Farsi and implement Farsi speaking pashtuns and afghanis to woo the Iranian customer.

India has plenty of Saudi riyals or Emarati dirhams sent by its overseas workers in the gulf?

 

[Abii]

How about paying in Saudi Riyals? Iran makes the largest share of yearly pilgrims and Iranian pilgrims are known for spending lavishly. Almost the majority of guest at all luxury hotels are Iranians and they also make up the most shoppers for jewellery and electronics. Vendor go out of their way to put up signboards in Farsi and implement Farsi speaking pashtuns and afghanis to woo the Iranian customer.

India has plenty of Saudi riyals or Emarati dirhams sent by its overseas workers in the gulf?

lol we are talking about BILLIONS of dollars!
you're not understanding the issue.

Iran's trade with China is more than 30 billion US dollars and it's going to reach 100 billion by the end of the decade. We have a reason to trade in Chinese Yuan as we could then use the money recieved for the oil sales to purchase machinery etc...

recieving rials would make NO SENSE for Iran, simply because we couldn't even buy 100 dollars worth of goods from KSA as KSA has nothing to offer other than oil, and we already have that. I also don't see how you can spend 5 billion US dollars on hotel rooms and electronics lol

 

[somebozo]

lol we are talking about BILLIONS of dollars!
you're not understanding the issue.

Iran's trade with China is more than 30 billion US dollars and it's going to reach 100 billion by the end of the decade. We have a reason to trade in Chinese Yuan as we could then use the money recieved for the oil sales to purchase machinery etc...

recieving rials would make NO SENSE for Iran, simply because we couldn't even buy 100 dollars worth of goods from KSA as KSA has nothing to offer other than oil, and we already have that. I also don't see how you can spend 5 billion US dollars on hotel rooms and electronics lol

Your comments could make sense to a layman but not a personal actively engaged in regional trade. A lot of export is done from KSA to Iran and also several Saudi conglomerates have active investments in Iran. The eastern region of KSA is rife with Iranian traders and companies engaged into re-export business to Iran. The KSA government has nothing against Iran and its people but it has grown sick with charges of exporting the revolution regularly echoed in Qom.

Currently the whole market of Iran for Caterpillar power systems is covered through Saudi Arabia. Just because western countries have slapped sanctions does not mean individual business will like to lose their bread and butter. Everyone looks for their benefit and the world cycle goes on.

But you missed the point my dear, the KSA riyal is pegged to dollar and readily exchangeable so holding KSA riyal = US dollar and you could easily use it for transactions in the international market? Its not all that impossible.

 

[Abii]

Your comments could make sense to a layman but not a personal actively engaged in regional trade. A lot of export is done from KSA to Iran and also several Saudi conglomerates have active investments in Iran. The eastern region of KSA is rife with Iranian traders and companies engaged into re-export business to Iran. The KSA government has nothing against Iran and its people but it has grown sick with charges of exporting the revolution regularly echoed in Qom.

Currently the whole market of Iran for Caterpillar power systems is covered through Saudi Arabia. Just because western countries have slapped sanctions does not mean individual business will like to lose their bread and butter. Everyone looks for their benefit and the world cycle goes on.

But you missed the point my dear, the KSA riyal is pegged to dollar and readily exchangeable so holding KSA riyal = US dollar and you could easily use it for transactions in the international market? Its not all that impossible.

didn't know

and Iran exporting its revolution has nothing to do with KSA. They can be as sick over it as they want to be. Iran is exporting its revolution to shia majority countries like Lebanon and Iraq, not KSA. If the shia people of KSA are unhappy about their life, it has nothing to do with Iran. We all know how wahabis view shias. They don't even consider shias muslim.

 

[takeiteasy]

Now Saudia will be going to provide the needed Oil to India. it is a ploy by USA to prevent bilateral ties between India and Iran.

Saudi Arabia has agreed to sell 3 million barrels of additional crude oil to India next month to make up for supply cut by Iran over unpaid bills, touching $7 billion. Saudi Aramco, the national oil firm of Saudi Arabia, will supply one million barrels each to Essar Oil, Bharat Petroleum and Hindustan Petroleum in August while Mangalore Refinery, too, is in talks to contract similar volumes, officials said on Tuesday.

Iran, which had towards the end of June warned of stopping exports to India unless dues are cleared, has not informed refiners of crude shipments for the month of August.

The additional supplies committed by Saudi Arabia is roughly one-third of what India imports from Iran, officials said, adding that more crude was being contracted from the UAE, Iraq and Kuwait as well as Latin America. Oil exports from Iran make up for about 12% of India’s oil needs.

Saudis step in as Iranian oil dries up - Hindustan Times

 

[Abii]

Now Saudia will be going to provide the needed Oil to India. it is a ploy by USA to prevent bilateral ties between India and Iran.


Saudis step in as Iranian oil dries up - Hindustan Times

they can only do that for a short amount of time
KSA simply can't average more than 8-9 mb/day long term anymore.

 

[ephone]

If you get oil from Iran, you should make payment to Iran.

As simple as that.

 

[Agni5000]

Instead of sending money, India should have send Arihant nuke sub to persian gulf. That would have ensured continues oil supply.

 

[bhagat]

Instead of sending money, India should have send Arihant nuke sub to persian gulf. That would have ensured continues oil supply.

arihant sub for what......?

 

[Agni5000]

arihant sub for what......?

Just send message to stupid iranian leaders...

 

[Chinese-Dragon]

Instead of sending money, India should have send Arihant nuke sub to persian gulf. That would have ensured continues oil supply.

You want to scare Iran, with a nuclear missile submarine that isn't even inducted yet?

Even America can't scare Iran, what will your submarine do.

 

[fd24]

You want to scare Iran, with a nuclear missile submarine that isn't even inducted yet?

Even America can't scare Iran, what will your submarine do.

Chinise - Dragon You shouldnt have told them its not inducted!!