Current Indain Sweet Cruse oil purchase... buying every last drop out of Current World market?

[hans]

Some thing is in the Air, If you guys are interested in future commodity market, see how fast and with such ferocious hunger India is buying every spare Drop of Cruse oil available in the open market.

Same goes for China, but India seems to outpace every one these days.

Now the Million $ Question, Is India converting its $$$ to Oil or we are about to get hit hard with a new Crude oil price correction.

Every one in the future market is looking into this trend, but no one is speculating. I can smell smoke, but cant make out its bearings.

 

[garry317]

(cry)(cry)(cry)(cry)(cry)(cry)(cry)

 

[sngilani]

:lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol:

 

[Unicorn]

One of the big reasons is that India owes four Billion dollars to Iran, maybe more now. China owes $20 Billion to Iran. With sanctions in place it is now almost impossible to pay Iran in US/Euro/Hard currencies. India and China both pay to a third party who exports goods to Iran. I think both countries want to build up reserves.

 

[only_truths]

One of the big reasons is that India owes four Billion dollars to Iran, maybe more now. China owes $20 Billion to Iran. With sanctions in place it is now almost impossible to pay Iran in US/Euro/Hard currencies. India and China both pay to a third party who exports goods to Iran. I think both countries want to build up reserves.

Unquote: Is oil is being used to get high quality and necessary goods (nuclear knowhow)? In that case are sanctions valid?

quote:

Governor of the Central Bank of Iran (CBI) Mahmoud Bahmani says India has paid off all its USD 5 billion debts to Iran over oil imports from the country.


"Despite the Indian side's willingness to repay its debts with goods and a bartering system, Iran rejected the offer," he told IRNA on Sunday.

Bahmani noted that Iran has not used bartering system for paying off all its debts from India so far, but it will only use the system for high-quality and required goods if necessary.

The CBI governor said although India has settled its five-billion-dollar debt, there will always be some oil debt as Iran continues to sell oil to the country.

The Islamic Republic of Iran supplies 400,000 barrels of oil per day to India which constitutes about 12 percent of the fast-growing Asian giant's needs.

Indian firms have been struggling for more than six months to pay off the oil debts to Iran due to international banking sanctions imposed on the Islamic Republic over its nuclear program.

 

[Unicorn]

Unquote: Is oil is being used to get high quality and necessary goods (nuclear knowhow)? In that case are sanctions valid?

quote:

Governor of the Central Bank of Iran (CBI) Mahmoud Bahmani says India has paid off all its USD 5 billion debts to Iran over oil imports from the country.


"Despite the Indian side's willingness to repay its debts with goods and a bartering system, Iran rejected the offer," he told IRNA on Sunday.

Bahmani noted that Iran has not used bartering system for paying off all its debts from India so far, but it will only use the system for high-quality and required goods if necessary.

The CBI governor said although India has settled its five-billion-dollar debt, there will always be some oil debt as Iran continues to sell oil to the country.

The Islamic Republic of Iran supplies 400,000 barrels of oil per day to India which constitutes about 12 percent of the fast-growing Asian giant's needs.

Indian firms have been struggling for more than six months to pay off the oil debts to Iran due to international banking sanctions imposed on the Islamic Republic over its nuclear program.

Thanks I didn't know it was settled but it is going difficult to deal with them with imposed sanctions.

 

[only_truths]

Thanks I didn't know it was settled but it is going difficult to deal with them with imposed sanctions.

My concern is that not the dues are settled? Eventually India would not like to be a defaulter considering billions of foreign exchange reserves. But why Iran is making it a fuss to get the nuclear technology as barter for selling its oil? Iran's credentials cannot be believed since last undemocratic elections?

 

[Unicorn]

My concern is that not the dues are settled? Eventually India would not like to be a defaulter considering billions of foreign exchange reserves. But why Iran is making it a fuss to get the nuclear technology as barter for selling its oil? Iran's credentials cannot be believed since last undemocratic elections?

Traditionally Iran always have a good relations with India. I think they feel uneasy with India improving relations with the US. I don't think they are going to rock the boat to much in that they will be a big looser.