India will buy oil in rupees and drop the dollar to buy iranian oil.

[my2cents]

I myself is dealing with Various Iranian companies. we are manufacturing Chemicals and exporting to Middle-east, Africa and whole Asia.

Good to know. I didn't know that banking facilities are available for rupee transactions in Iran.

 

[t_for_talli]

No doubt a snub to master USA. Will come to haunt India big time.

M
there are several types of relations.......India was against US in Jerusalem issue / Myanmar issue / India kept on trading with NK even after sanctions, and in this case sanctions issue

unlike some who have master-slave kind of relations, who are willing to sell the blood of soldiers for fighting wars of other nations/ who lets other bomb civilian areas / Abbottabad/ salala/ raymond davis ....list is very long

jinki aukaat do kaudi ki hoti hai unhe doosro pe bolne se pehele sochna chaiye

 

[sputnik]

Good to know. I didn't know that banking facilities are available for rupee transactions in Iran.

UCO bank and Indus Ind banks are honoring the L/c from Iran in INR. u need to issue Proforma Invoice in INR and at the time of custom clearance with Indian customs file shipping Bill in INR.
After this no body have any wherewithal to stop your payment. Not even worthless orange man and his sanctions and UNSC. specially in front of India.

India was already buying oil on cheap rates with generous credit term and was partially paying in INR. Now she's is even stronger position to bargain more as Iran have no other choice but to accept whatever terms India dictate.

not partially. some shipments are completely paid in INR. this is well sort out at the time of Proforma issuance from both side. IOC, I know, is getting 3-months credit time from Iran.

All this sanctions and everything is only for idiots. those who have money have smooth sailing. Few American MNCs have 3rd party manufacturing arrangements in Iran. they take USD payment to their Indian Branch and Indian concern make payment in INR to Iran. Goods before shipped get 3rd party analyzed in Germany which get sent directly from Iran.
Tell this to few PDf jingos and they have hard time to comprehend.

 

[Crixus]

I heard about UCO dealing with Iran but Indus bank is surprise .......
A Pakistani river name to do trading with Iran

UCO bank and Indus Ind banks are honoring the L/c from Iran in INR. u need to issue Proforma Invoice in INR and at the time of custom clearance with Indian customs file shipping Bill in INR.
After this no body have any wherewithal to stop your payment. Not even worthless orange man and his sanctions and UNSC. specially in front of India.


not partially. some shipments are completely paid in INR. this is well sort out at the time of Proforma issuance from both side. IOC, I know, is getting 3-months credit time from Iran.

All this sanctions and everything is only for idiots. those who have money have smooth selling. Few American MNCs have 3rd party manufacturing arrangements in Iran. they take USD payment to their Indian Branch and Indian concern make payment in INR to Iran. Goods before shipped get 3rd party analyzed in Germany which get sent directly from Iran.
Tell this to few PDf jingos and they have hard time to comprehend.

 

[SrNair]

UCO bank and Indus Ind banks are honoring the L/c from Iran in INR. u need to issue Proforma Invoice in INR and at the time of custom clearance with Indian customs file shipping Bill in INR.
After this no body have any wherewithal to stop your payment. Not even worthless orange man and his sanctions and UNSC. specially in front of India.


not partially. some shipments are completely paid in INR. this is well sort out at the time of Proforma issuance from both side. IOC, I know, is getting 3-months credit time from Iran.

All this sanctions and everything is only for idiots. those who have money have smooth selling. Few American MNCs have 3rd party manufacturing arrangements in Iran. they take USD payment to their Indian Branch and Indian concern make payment in INR to Iran. Goods before shipped get 3rd party analyzed in Germany which get sent directly from Iran.
Tell this to few PDf jingos and they have hard time to comprehend.

Well thats new .
So at the end if you are a big nation big economy noone can stand in your way .
Trump is stupid .That idiot even began to provokes Europe.

 

[Crixus]

I like France in foreign policy .... French were the first to show middle finger to Orange man , when he backed out from the nuclear deal with Iran .... I like the way Indian and Iran do business pure business no politics.......

Well thats new .
So at the end if you are a big nation big economy noone can stand in your way .
Trump is stupid .That idiot even began to provokes Europe.

 

[sputnik]

I heard about UCO dealing with Iran but Indus bank is surprise .......
A Pakistani river name to do trading with Iran

IndusInd Started recently and probably only Private Bank space which is dealing with Iranian L/cs.

Well thats new .
So at the end if you are a big nation big economy noone can stand in your way .
Trump is stupid .That idiot even began to provokes Europe.

If this is not Enough, then Read abt Saudi Oil company Aramco. Only Indian companies (Govt.) are getting 3-months payment credit from them & Pricing is not based on Forwards. Just think of it. Neither Buyer Nor supplier is hedging.

 

[Crixus]

Isn’t Armaco the one investing 42 billion in Maharashtra and stupid MNS and Shiv Sena are opposing it.

IndusInd Started recently and probably only Private Bank space which is dealing with Iranian L/cs.

IndusInd Started recently and probably only Private Bank space which is dealing with Iranian L/cs.


If this is not Enough, then Read abt Saudi Oil company Aramco. Only Indian companies (Govt.) are getting 3-months payment credit from them & Pricing is not based on Forwards. Just think of it. Neither Buyer Nor supplier is hedging.

 

[SrNair]

IndusInd Started recently and probably only Private Bank space which is dealing with Iranian L/cs.


If this is not Enough, then Read abt Saudi Oil company Aramco. Only Indian companies (Govt.) are getting 3-months payment credit from them & Pricing is not based on Forwards. Just think of it. Neither Buyer Nor supplier is hedging.

Saudi desperately needs our market .I think that is one reason.
Now we can feel the presence of India's influence .
Within one and half decade .
This is just another level.We wont rule the world .But we will decide the fate of world

 

[sputnik]

Isn’t Armaco the one investing 42 billion in Maharashtra and stupid MNS and Shiv Sena are opposing it.

I don't know abt Maharashtra refinery one but ALL oil storage Depots in India are partially financed by Saudi and UAE Govts. Not Just tht. Even US Agriculture dept. is pointing to India regarding exact cotton stock in World.
Recent rally in Cotton price in the US and elsewhere is Fueled by this speculation.

 

[Crixus]

I can say we will have more influence then now but if Congress or 3rd from will come in power in 2019 all will be in vain and we waste another 10 or more years like 2004-2014 hope the current govt will continue till 2024

Saudi desperately needs our market .I think that is one reason.
Now we can feel the presence of India's influence .
Within one and half decade .
This is just another level.We wont rule the world .But we will decide the fate of world

 

[sputnik]

I heard about UCO dealing with Iran but Indus bank is surprise .......
A Pakistani river name to do trading with Iran

This Bank is part of Hinduja Grp. One should ask British govt. how they are allowing this

I can say we will have more influence then now but if Congress or 3rd from will come in power in 2019 all will be in vain and we waste another 10 or more years like 2004-2014 hope the current govt will continue till 2024

India Always had weight in International arena but we never do "Posturing" like the US.
As some one in the US administration had once said " India always Punch below it's weight".