US threatens India with sanctions over Iran tradeUS threatens India with sanctions over Iran trade
http://previous.presstv.ir/photo/20120316/tebrahimpour20120316150735933.jpgIndia has repeatedly insisted that it will continue to purchase crude oil from the Islamic Republic.
Fri Mar 16, 2012 2:39PM GMT
Given the level of trade, and in particular oil, between Iran and India, targeting an Indian entity that facilitates Iran’s access to the international financial market should be top of mind for the US Treasury.”
Avi Jorisch, former US Treasury Department official
The United State has threatened to impose sanctions against India if the South Asian country fails to reduce its purchase of crude oil from the Islamic Republic.
“If India fails to cut Iranian imports sufficiently, Obama may be compelled to bar access to the U.S. banking system for any Indian bank processing oil payments through Iran’s central bank,” Bloomberg quoted a US official as saying, on condition of anonymity, on Thursday.
On New Year’s Eve, the United States imposed new sanctions against Iran aimed at preventing other countries from importing Iranian oil and conducting transactions with its central bank.
“Given the level of trade, and in particular oil, between Iran and India, targeting an Indian entity that facilitates Iran’s access to the international financial market should be top of mind for the US Treasury,” said Avi Jorisch, a former US Treasury Department official.
This comes as India has repeatedly insisted that it will continue to purchase crude oil from the Islamic Republic.
Indian Oil Minister Jaipal Reddy said on February 27, that New Delhi “has cordial relations with Iran and continues to import oil from them.”
In January, Iranian crude exports to India rose to 550,000 barrels a day, up 37.5 percent from December 2011.
India, the world's fourth-largest petroleum consumer, is Iran's second largest oil customer after China and purchases around USD 12 billion worth of Iranian crude every year, about 12 percent of its consumption.
Observers believe that India will press on with its plan to increase trade ties with the Islamic Republic despite fresh Western sanctions.
Mar 16, 2012 10:58 PM
Us now is a mad dog biting whom ever is passing by, Free nations of the world need to kick out this mad dog from international trading activities. Place sanction on America. Do not trade with this irresponsible government. Do not buy any American goods and services.
Mar 16, 2012 10:45 PM
The time of colonialism is over. RoadDawg
Mar 16, 2012 10:4 PM
I am an American and I agree with every comment here refering to the belligerent, arrogant actions of intimidation by my country. We have gorged at the table of excess and the rest of the world is paying for it through the use of our "dollar printing presses" by exporting inflation. Now, we are about to engulf the mideast in a regional war like no other that will very likely "get out of control." America has become a nation of perpetual war.
By the wayin reply to RoadDawg
3/16/2012 10:59:46 PM
Yea that is one of the many ways, you forgot to mention outright robbing every single resource rich nation on the globe and having their terrorist bases there, that is all the U.S stands for. Murder of people residing in resource richh nations and theft of their resources. The U.S would not make it past the weekend with out immigrant scientists and brains, by the way touch Iran WW3.It's pretty much the end of the road for your illegit 200 year old, native baby rapping, mental institution called the U.S. Simple mind
Mar 16, 2012 10:1 PM
What a ridiculous is becoming USA. Do you remember when you was a child? almost everybody was afraid about the bully guy until one day the unknown guy put him in his place and nobody was afraid of him anymore? Same now, nobody cares about what USA is telling you to do and worst if you don't cooperate them they try to scare you about sanctions. Who cares what a broken country in all aspects is yelling! USA has never been a real country like the rest of the world. No even national identity, guess what? This is real world not Batman, o Iron man, no Madonna or lady gaga! we are the real people not a indoctrination of false superheroes. USA go away!! Zak
Mar 16, 2012 10:1 PM
India and Iran should kick start their trade transactions in their own currencies and dump the dollar(satan's currency). Both countries should capitalize this opportunity to increase relations to minimize U.S influence in the world.Iran should do the same trade transactions with other countries to eradicate the dollar dependency transactions.That will lead other nations follow the same , Iran need to explore these ways to eradicate its dependency of dollar transactions preemptively so that it can tackle the future upcoming troubles. Barabbas
Mar 16, 2012 9:43 PM
there you have it...USA democracy at work with a sharp stick...if you dont do as we say your dead? welcome to the fair and free world of the west....it was always run by gangsters and it will always be run by gangsters Democracy is a front for the clowns that think they are getting a say in the way life is run in the west...all lies and trickery!