TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    PM Narendra Modi with Armed Forces Personnel after 'Operation Sindoor',

    Terrorism Will be Met With Fire: Operation Sindoor Establishes New Indian Doctrine

    Lahore ATC Denies IndiGo Flight Entry into Pakistani Airspace Amid Hailstorm Emergency

    Lahore ATC Denies IndiGo Flight Entry into Pakistani Airspace Amid Hailstorm Emergency

    BJP MP shares India-Pak pact of 1991

    Past Cong govt okayed exchange of information on troops movement: BJP MP shares India-Pak pact of 1991

    Lieutenant General Ahmed Sharif Chaudhry – the face of Pakistan's military propaganda – has now taken a leaf straight out of the Lashkar-e-Taiba (LeT) handbook.

    Pakistan Army’s Echo Chamber: Hafiz Saeed’s Words Now Come in Uniform

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    International Monetary Fund (IMF).

    IMF Defends $1 Billion Bailout to Pakistan Amid India’s Concerns Over Terror Funding

    The Silent Revolution: How Quantum AI Is Rewriting Cybersecurity, Finance, and Warfare

    The Silent Revolution: How Quantum AI Is Rewriting Cybersecurity, Finance, and Warfare

    Designing For Impact: Create Exceptional Small Businesses Marketing Materials

    Designing For Impact: Create Exceptional Small Businesses Marketing Materials

    Things You Need to Consider Before Choosing an L&T Finance Two-wheeler Loan

    Things You Need to Consider Before Choosing an L&T Finance Two-wheeler Loan

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    PM Narendra Modi with Armed Forces Personnel after 'Operation Sindoor',

    Terrorism Will be Met With Fire: Operation Sindoor Establishes New Indian Doctrine

    Operation Sindoor sparked panic in Pakistan army, intercept reveals commander abandoned post

    Operation Sindoor sparked panic in Pakistan army, intercept reveals commander abandoned post

    Jammu: Two terrorists killed, soldier injured in ongoing encounter in Jammu & Kashmir

    Jammu: Two terrorists killed, soldier injured in ongoing encounter in Jammu & Kashmir

    Why the PMO Must Take the Cockpit of India’s Jet Program?

    Why the PMO Must Take the Cockpit of India’s Jet Program?

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Pakistan global epicentre of terrorism, hiding its own gross failings: MEA on Balochistan attack accusation

    Pakistan global epicentre of terrorism, hiding its own gross failings: MEA on Balochistan attack accusation

    UNSC

    While UNSC Talks Oceans, Pakistan Wades into Rivers: Absurd Diplomacy at Play

    European Union

    European Union : The Colonial Karma Strikes Back

    Operation Sindoor still on: India neutralises Pakistan’s Chinese-made HQ9 Air Defence System in Lahore

    Operation Sindoor still on: India neutralises Pakistan’s Chinese-made HQ9 Air Defence System in Lahore

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    The Complete Guide to Education Loan Interest Rates in 2025

    The Complete Guide to Education Loan Interest Rates in 2025

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    ১win: একটি অনলাইন প্ল্যাটফর্ম যেখান থেকে শুরু হয় বেটিং-এর নতুন অধ্যায়

    ১win: একটি অনলাইন প্ল্যাটফর্ম যেখান থেকে শুরু হয় বেটিং-এর নতুন অধ্যায়

    The Future of Online Gaming and Gambling in India Hinges on Supreme Court Ruling

    The Future of Online Gaming and Gambling in India Hinges on Supreme Court Ruling

    Erectile Dysfunction: Separating Fact from Fiction Before You See That Sexologist Doctor in Bangalore

    Erectile Dysfunction: Separating Fact from Fiction Before You See That Sexologist Doctor in Bangalore

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    PM Narendra Modi with Armed Forces Personnel after 'Operation Sindoor',

    Terrorism Will be Met With Fire: Operation Sindoor Establishes New Indian Doctrine

    Lahore ATC Denies IndiGo Flight Entry into Pakistani Airspace Amid Hailstorm Emergency

    Lahore ATC Denies IndiGo Flight Entry into Pakistani Airspace Amid Hailstorm Emergency

    BJP MP shares India-Pak pact of 1991

    Past Cong govt okayed exchange of information on troops movement: BJP MP shares India-Pak pact of 1991

    Lieutenant General Ahmed Sharif Chaudhry – the face of Pakistan's military propaganda – has now taken a leaf straight out of the Lashkar-e-Taiba (LeT) handbook.

    Pakistan Army’s Echo Chamber: Hafiz Saeed’s Words Now Come in Uniform

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    International Monetary Fund (IMF).

    IMF Defends $1 Billion Bailout to Pakistan Amid India’s Concerns Over Terror Funding

    The Silent Revolution: How Quantum AI Is Rewriting Cybersecurity, Finance, and Warfare

    The Silent Revolution: How Quantum AI Is Rewriting Cybersecurity, Finance, and Warfare

    Designing For Impact: Create Exceptional Small Businesses Marketing Materials

    Designing For Impact: Create Exceptional Small Businesses Marketing Materials

    Things You Need to Consider Before Choosing an L&T Finance Two-wheeler Loan

    Things You Need to Consider Before Choosing an L&T Finance Two-wheeler Loan

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    PM Narendra Modi with Armed Forces Personnel after 'Operation Sindoor',

    Terrorism Will be Met With Fire: Operation Sindoor Establishes New Indian Doctrine

    Operation Sindoor sparked panic in Pakistan army, intercept reveals commander abandoned post

    Operation Sindoor sparked panic in Pakistan army, intercept reveals commander abandoned post

    Jammu: Two terrorists killed, soldier injured in ongoing encounter in Jammu & Kashmir

    Jammu: Two terrorists killed, soldier injured in ongoing encounter in Jammu & Kashmir

    Why the PMO Must Take the Cockpit of India’s Jet Program?

    Why the PMO Must Take the Cockpit of India’s Jet Program?

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Pakistan global epicentre of terrorism, hiding its own gross failings: MEA on Balochistan attack accusation

    Pakistan global epicentre of terrorism, hiding its own gross failings: MEA on Balochistan attack accusation

    UNSC

    While UNSC Talks Oceans, Pakistan Wades into Rivers: Absurd Diplomacy at Play

    European Union

    European Union : The Colonial Karma Strikes Back

    Operation Sindoor still on: India neutralises Pakistan’s Chinese-made HQ9 Air Defence System in Lahore

    Operation Sindoor still on: India neutralises Pakistan’s Chinese-made HQ9 Air Defence System in Lahore

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    The Complete Guide to Education Loan Interest Rates in 2025

    The Complete Guide to Education Loan Interest Rates in 2025

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    ১win: একটি অনলাইন প্ল্যাটফর্ম যেখান থেকে শুরু হয় বেটিং-এর নতুন অধ্যায়

    ১win: একটি অনলাইন প্ল্যাটফর্ম যেখান থেকে শুরু হয় বেটিং-এর নতুন অধ্যায়

    The Future of Online Gaming and Gambling in India Hinges on Supreme Court Ruling

    The Future of Online Gaming and Gambling in India Hinges on Supreme Court Ruling

    Erectile Dysfunction: Separating Fact from Fiction Before You See That Sexologist Doctor in Bangalore

    Erectile Dysfunction: Separating Fact from Fiction Before You See That Sexologist Doctor in Bangalore

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

Now, India can pay Iran in rupees for crude oil imports.

Shubhangi Sharma by Shubhangi Sharma
7 December 2018
in Trending
India, Iran, Rupees

PC: livemint.com

Share on FacebookShare on X

India has recently signed an MOU with Iran to pay in rupees for crude oil imports. Indian refiners will transfer payments in rupees to Indian government owned United Commercial Bank (UCO) account of the National Iranian Oil Co (NIOC) while half of these funds will be set aside for settling payments for exports of Indian goods to Iran. India shall be exporting foodgrains including wheat and soyabean, medicine and medical equipments to Iran.

Iran is the only seller of crude oil that provides 60 days of credit for purchases and therefore is preferable for India to trade with. Iran is the third largest exporter of crude oil to India while India is its second largest importer after China. India currently imports 83 per cent of its oil needs, the largest share of which is supplied by Iraq, Saudi Arabia being the second largest supplier. Iran’s crude oil export to India increased exponentially from 12.7 million tonnes in 2015-16 to 27.2 million tonnes in 2016-17. India’s imports from Iran had risen from 5.62 Million tonnes in the first quarter of FY 2017-18 to 8.14 million tonnes in Q1 of 2018-19.

RelatedPosts

Terrorism Will be Met With Fire: Operation Sindoor Establishes New Indian Doctrine

Operation Sindoor sparked panic in Pakistan army, intercept reveals commander abandoned post

Lahore ATC Denies IndiGo Flight Entry into Pakistani Airspace Amid Hailstorm Emergency

Load More

However, India’s crude oil imports from Iran reduced after Donald Trump’s fresh sanctions on the Islamist nation took effect from August 6 and further tightened in November. India faced the threat of sanctions from the United States under the CAATSA (Countering American Adversaries Through Sanctions Act) law of the US which India refused to recognize.

Mike Pompeo, Secretary of State, USA, announced on November 5 that the Trump administration would be exempting India among other nations as it showed considerable reduction in imports from Iran. Under the said 180-day exemption from US sanctions, India has restricted oil imports from Iran to 300,000 bpd or 15 Million tonnes in a year, from 452,000 bpd or 22.6 million tonnes bought in FY 2017-18.

The worst ever sanctions were imposed by the United States on Iran on November 5, blocking European banking channels through which India had been making its payments. Shipping firms are also unwilling to transport Iranian oil and hence Iran has been using its own ships. The sanctions have already reduced  Iran’s exports by 1 Million barrels per day.

The sanctions-ridden country is adopting every means to bypass the crippling impact on it’s economy and has also threatened to close the Strait of Hormuz if the US resorts to blocking Iranian oil exports while on its quest to pressure Iran to cease it’s ballistic missile tests, accept restrictions on its nuclear programme and cut off funding to militant organisations in the region. In an interview this week Iranian President Hassan Rouhani said, “If someday, the United States decides to block Iran’s oil (exports), no oil will be exported from the Persian Gulf.”

Earlier in 2013 when sanctions tightened on Iran, India paid 45 per cent of its bill in Rupees while the remainder was kept pending until 2015 when the dues began clearing off once restrictions eased. However, the latest MOU will boost Indian exports and will also have a positive impact on the Make In India while paying in Rupees the other half of the crude oil import bill from its third largest supplier.

Share6021TweetSend
Previous Post

How PM Modi negotiated with the Saudis to lower oil prices for Indian consumers

Next Post

Kedarnath Movie Review – Possibly the worst release of the year

Related Posts

Lahore ATC Denies IndiGo Flight Entry into Pakistani Airspace Amid Hailstorm Emergency
Trending

Lahore ATC Denies IndiGo Flight Entry into Pakistani Airspace Amid Hailstorm Emergency

23 May 2025

An IndiGo flight en route to Srinagar encountered severe turbulence and hail while flying over northern India, but was...

Central Bureau of Investigation (CBI) has filed a chargesheet against former Jammu and Kashmir Governor Satyapal Malik
Politics

CBI Files Chargesheet Against Former J&K Governor Satyapal Malik in Kiru Hydropower Case

22 May 2025

The Central Bureau of Investigation (CBI) has filed a chargesheet against former Jammu and Kashmir Governor Satyapal Malik and...

China Slams U.S. 'Golden Dome' Missile Defense Plan, Warns of Global Arms Race
Politics

China Slams U.S. ‘Golden Dome’ Missile Defense Plan, Warns of Global Arms Race

22 May 2025

China has issued a stern rebuke of the Trump administration’s proposed “Golden Dome” missile defense system, calling it a...

Load More

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.

Currently Playing

Pakistan needs money from IMF to feed their people

Pakistan needs money from IMF to feed their people

00:15:20

Vacate PoK and more: Steps Pakistan needs to take to avoid Indian military action

00:06:36

Taking The Wire’s Propaganda Piece on VP to the Cleaners – Feat. Prof. Kapil Kumar

00:09:19

Rahul Gandhi Undermines India’s Electoral Integrity as Trump Applauds It

00:07:09

Why Pakistan army chief reminds two nation theory| what is the plan| Waqf Bill |Asim Munir| Jinnah

00:13:02
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

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
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited