ajay
FULL MEMBER
- Joined
- Jan 8, 2011
- Messages
- 246
- Reaction score
- 0
TEHRAN (FNA)- A senior Indian official underlined on Wednesday that the New Delhi government will not allow Washington to meddle with its energy ties with Iran, specially considering the Indian people's dire need for Iranian oil.
"The Indian people need fuel and the New Delhi officials will not permit the White House to decide for the Indian people's fate," Indian Deputy Oil Minister Bahara Gava said.
He also underlined his country's enthusiasm for signing and implementing oil and gas contracts with Iran, and said, "India imports 400,000 barrels of crude oil from Iran and the amount will go twice up to 2015."
"Thus, the Indian government continues to insist on continued trend of trade deals with Iran," Gava added.
A delegation from the Indian oil and economy sector is scheduled to visit Iran on January 14 to explore ways to settle payment currency issues in the two countries' oil deals.
Indian officials had announced earlier this month that oil payments problem for export of Iran's oil supplies to the country has been solved and there has been no disruption in supply since the Reserve Bank of India (RBI) issued new payment guidelines.
"There has been no disruption in supply since (Reserve Bank of India) RBI issued new payment guidelines. A cargo for delivery on January 8 and 9 is currently being loaded in Iran and we have no problems sourcing crude from Iran," India's Petroleum Secretary S. Sundareshan said.
Late in December, Iran had sent a central bank delegation to Mumbai for talks and the Iranian deputy oil minister, Ahmad Khaledi, said at the time that the two sides found a solution by changing the currency of payment.
The problem arose when the Indian Central Bank said import payments to Iran would have to be settled outside the existing Asian Clearing Union (ACU) mechanism.
Under the ACU mechanism, every two months imports by the nine member-nations are settled by every member paying for its import surplus.
Oil companies working with Iran like Hindustan Petroleum Corp Ltd (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) will make payments to NIOC's EIH Bank account in Hamburg via the State Bank of India (SBI).
According to Sundareshan, the two central banks will meet in Tehran from January 14 to 16 to find a permanent solution to the matter.
A major part of the meeting will involve choosing a payment currency, such as the Iranian Rial, Dirham and Yen, which are not susceptible to US pressure.
Fars News Agency :: Official: India Not to Allow US to Interfere in Energy Ties with Iran
"The Indian people need fuel and the New Delhi officials will not permit the White House to decide for the Indian people's fate," Indian Deputy Oil Minister Bahara Gava said.
He also underlined his country's enthusiasm for signing and implementing oil and gas contracts with Iran, and said, "India imports 400,000 barrels of crude oil from Iran and the amount will go twice up to 2015."
"Thus, the Indian government continues to insist on continued trend of trade deals with Iran," Gava added.
A delegation from the Indian oil and economy sector is scheduled to visit Iran on January 14 to explore ways to settle payment currency issues in the two countries' oil deals.
Indian officials had announced earlier this month that oil payments problem for export of Iran's oil supplies to the country has been solved and there has been no disruption in supply since the Reserve Bank of India (RBI) issued new payment guidelines.
"There has been no disruption in supply since (Reserve Bank of India) RBI issued new payment guidelines. A cargo for delivery on January 8 and 9 is currently being loaded in Iran and we have no problems sourcing crude from Iran," India's Petroleum Secretary S. Sundareshan said.
Late in December, Iran had sent a central bank delegation to Mumbai for talks and the Iranian deputy oil minister, Ahmad Khaledi, said at the time that the two sides found a solution by changing the currency of payment.
The problem arose when the Indian Central Bank said import payments to Iran would have to be settled outside the existing Asian Clearing Union (ACU) mechanism.
Under the ACU mechanism, every two months imports by the nine member-nations are settled by every member paying for its import surplus.
Oil companies working with Iran like Hindustan Petroleum Corp Ltd (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) will make payments to NIOC's EIH Bank account in Hamburg via the State Bank of India (SBI).
According to Sundareshan, the two central banks will meet in Tehran from January 14 to 16 to find a permanent solution to the matter.
A major part of the meeting will involve choosing a payment currency, such as the Iranian Rial, Dirham and Yen, which are not susceptible to US pressure.
Fars News Agency :: Official: India Not to Allow US to Interfere in Energy Ties with Iran
