• Latest
  • Most Read
India iran oil imports

India to continue oil imports from Iran defying US sanctions

5 years ago
No more Bollywood films for Nayanthara?

No more Bollywood films for Nayanthara?

23 hours ago
Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

23 hours ago
No Space for Terrorism: Center’s Strong Media Policy

No Space for Terrorism: Center’s Strong Media Policy

23 hours ago
ASUS to relocate its primary manufacturing hub from China to India

ASUS to relocate its primary manufacturing hub from China to India

1 day ago
Canada feels the heat as India suspends Visa services

Canada feels the heat as India suspends Visa services

1 day ago
One post can make you a pariah like Shubhneet Singh aka Shubh!

One post can make you a pariah like Shubhneet Singh aka Shubh!

1 day ago
Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

1 day ago
Dear PM Modi, make Adhir Ranjan’s wish come TRUE!

Dear PM Modi, make Adhir Ranjan’s wish come TRUE!

1 day ago
Trudeau plays the fiddle as Canada burns!

Trudeau plays the fiddle as Canada burns!

1 day ago
Justin Trudeau, don’t even try!

Justin Trudeau, don’t even try!

1 day ago
NIA goes out on “war mode” against Canada based fugitives

NIA goes out on “war mode” against Canada based fugitives

2 days ago
Women’s Reservation Bill Passed in Parliament after decades!

Women’s Reservation Bill Passed in Parliament after decades!

2 days ago
Trudeau bites dust in gathering “international support” against India

Trudeau bites dust in gathering “international support” against India

2 days ago
Thank you, Justin Trudeau, Bharat will never forget your contribution!

Thank you, Justin Trudeau, Bharat will never forget your contribution!

2 days ago
Travel advisory: Canada is now as much a threat as Pakistan as per MEA

Travel advisory: Canada is now as much a threat as Pakistan as per MEA

3 days ago
  • About us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI हिन्दी
TFI Global
Saturday, September 23, 2023
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    No Space for Terrorism: Center’s Strong Media Policy

    No Space for Terrorism: Center’s Strong Media Policy

    Canada feels the heat as India suspends Visa services

    Canada feels the heat as India suspends Visa services

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    ASUS to relocate its primary manufacturing hub from China to India

    ASUS to relocate its primary manufacturing hub from China to India

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Trudeau plays the fiddle as Canada burns!

    Trudeau plays the fiddle as Canada burns!

    Justin Trudeau, don’t even try!

    Justin Trudeau, don’t even try!

    NIA goes out on “war mode” against Canada based fugitives

    NIA goes out on “war mode” against Canada based fugitives

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    When BR Ambedkar openly challenged the Nizam Shahi

    When BR Ambedkar openly challenged the Nizam Shahi

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    No more Bollywood films for Nayanthara?

    No more Bollywood films for Nayanthara?

    Online BlackJack India

    How to Play Blackjack Online from India with Real Money

    Zoey Deutch films to watch

    Discover the Magic: 10 Must Watch Films of Zoey Deutch

    Mushroom Soup health benefits

    Discover the Nutritional Wonders: 9 Health Benefits of Mushroom Soup

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    No Space for Terrorism: Center’s Strong Media Policy

    No Space for Terrorism: Center’s Strong Media Policy

    Canada feels the heat as India suspends Visa services

    Canada feels the heat as India suspends Visa services

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    ASUS to relocate its primary manufacturing hub from China to India

    ASUS to relocate its primary manufacturing hub from China to India

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Trudeau plays the fiddle as Canada burns!

    Trudeau plays the fiddle as Canada burns!

    Justin Trudeau, don’t even try!

    Justin Trudeau, don’t even try!

    NIA goes out on “war mode” against Canada based fugitives

    NIA goes out on “war mode” against Canada based fugitives

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    When BR Ambedkar openly challenged the Nizam Shahi

    When BR Ambedkar openly challenged the Nizam Shahi

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    No more Bollywood films for Nayanthara?

    No more Bollywood films for Nayanthara?

    Online BlackJack India

    How to Play Blackjack Online from India with Real Money

    Zoey Deutch films to watch

    Discover the Magic: 10 Must Watch Films of Zoey Deutch

    Mushroom Soup health benefits

    Discover the Nutritional Wonders: 9 Health Benefits of Mushroom Soup

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
No Result
View All Result

HOME » Geopolitics » India to continue oil imports from Iran defying US sanctions

India to continue oil imports from Iran defying US sanctions

Amit Agrahari
by Amit Agrahari
6 October 2018
in Geopolitics, West Asia
0
India iran oil imports

PC: livemint.com

1.4k
VIEWS
Share on FacebookShare on Twitter

Modi government has decided to continue with the import of Iranian oil despite sanctions from the United States. Public sector refineries, Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have contracted to import 1.25 million tonnes crude oil from Iran in November. The next round of US sanctions on Iran will be effective from November and Trump administration had asked India to reduce oil imports from Iran. But as the orders from state oil refineries show, India is in mood to defy American sanctions on oil imports. Both nations have decided to suspend dollar payment and are preparing to trade in Indian Rupee.

India’s relation with United States has improved in the last two decades. There is bipartisan consensus in America that they should engage more closely with India on economic, defense and foreign policy matters. Modi government has engaged United States in a very positive matter. But its foreign policy is guided by ‘National Interest’ rather than engaging with a particular block. The ‘Chanakyan School of foreign policy’ is prominent in Modi government. According to this school, a country should adhere to ‘Realism’ on foreign policy matters and ‘National Interest’ should be supreme while dealing with any other country. This is in stark difference with ‘Nehruvian foreign policy’ which used to see foreign policy as a tool of ‘international good’ rather than ‘National Interest’.

Modi government does not only defy US sanctions on Iran but also did not follow its diktat to not purchase S-400 missiles from Russia. America has imposed sanctions on Russia due to its intervention in Crimea. US sanctions on Russia led to Indian payments worth over $100 million to Russia being blocked in less than a month, with payments of over $2 billion facing uncertainty. It impacted ongoing submarine repairs besides the purchases of missiles and ammunition. The signing of a $5-billion deal to purchase the S-400 air defense system from Russia was also under doubt. When there was no chance of cooperation India had found a way to pay to Russia. It was planned by the Indian government that now India will go on with a rupee-ruble transfer as this is the only way out for both sides. However US later decide to mend ways with India for mutual benefit and India, along with Indonesia and Vietnam, got a waiver from US sanctions against Russia.

India is one of the largest oil importing nations in Asia, and happens to be one of the six nations that continued purchasing crude oil from Iran despite heavy US sanctions before 2016. Almost 80% of India’s oil demands are fulfilled through oil imports, the majority of which comes from Venezuela and Iran, two nations under heavy sanctions from the United States. Donald Trump decided to revive sanctions that were lifted after the 2015 Nuclear Deal between the United States and the Iran. Oil prices are already touching record high in international as well as domestic markets. If India stops imports from Iran, the prices will move further north. Rise in crude oil prices impacts Indian economy negatively therefore cutting down imports from Iran is not in national interest.

On Iranian oil import and Russian military equipment purchase, India’s national interest was at stake and therefore government defied the US diktat. However this does not mean that Modi government does not want good relations with United States. In fact, both countries are closest ever in history and are cooperating on military, foreign policy and economy front. The dealing with America and Russia tells than Modi government’s foreign policy is driven solely on national interest.

Tags: Crude OilIndiaIranUSUS sanctions
Share520TweetSend
Previous Post

Dissent to the dissenting view of Hon’ble Justice Chandrachud in Bhima Koregaon Case

Next Post

AIB fame Utsav Chakraborty refuses to apologize for his offences

Amit Agrahari

Amit Agrahari

Engineering grad but Humanities and social sciences are my forte. Avid reader of religious Scriptures (Especially Hindu), Lord Shiva devotee

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Comments
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
Meat Ban

A Jain responds to Meat Ban in Mumbai

Public Sector Bank, Government, Bill

Dear bank employees, continue your stride but PSBs will be privatized

anti-Hindi

Anti-Hindi Forever?- In search of a National Language!

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

No more Bollywood films for Nayanthara?

No more Bollywood films for Nayanthara?

22 September 2023
Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

22 September 2023
No Space for Terrorism: Center’s Strong Media Policy

No Space for Terrorism: Center’s Strong Media Policy

22 September 2023
ASUS to relocate its primary manufacturing hub from China to India

ASUS to relocate its primary manufacturing hub from China to India

22 September 2023

Popular This Week

Jawan Box office collection: Why SRK’s releases are not “Genuine Success”?
Cinema

Jawan Box office collection: Why SRK’s releases are not “Genuine Success”?

by Animesh Pandey
15 September 2023
Nana Patekar steamrolls Bollywood and their hypocrisy
Cinema

Nana Patekar steamrolls Bollywood and their hypocrisy

by Animesh Pandey
15 September 2023
Trudeau writes his political and economic epitaph by withholding the India FTA
Geopolitics

Trudeau writes his political and economic epitaph by withholding the India FTA

by Animesh Pandey
19 September 2023
Sanjay Khan
Cinema

Sanjay Khan – The lecherous demon behind the “handsome gentleman”

by Tejasvi Malhotra
13 November 2022
Kiran Rao’s fear is quite real, and it’s much needed!
Cinema

Kiran Rao’s fear is quite real, and it’s much needed!

by Animesh Pandey
20 September 2023

©2023 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFI Official Merchandise
TFI हिन्दी
TFI Global
  • About us
  • Careers
  • Brand Partnerships

©2023 TFI Media Private Limited

Follow us on Twitter

and never miss an insightful take by the TFIPOST team

Follow @tfipost