Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

India to pay 45 Percent of Iranian Oil Imports in Rupees

43 sec read

Iran had agreed to accept 45 percent of payments for Iranian crude oil in Indian rupees and India will invest in Iranian infrastructure, while Iran will use the currency to buy Indian goods. Next to Saudi Arabia, Indian is the second biggest crude customer for Tehran, with 12 percent of the country’s crude oil import coming from Iran.

Under the agreement, 45 percent of the payments would be made in Indian rupee through three banks gold is not a suitable option for payment and Iran can use the money for buying machinery, metal products, iron, steel, minerals, clothes, fibre, sugar, tea, wood and automobiles in India, among others. t Iran has opened accounts in Indian banks, including UCO Bank, to facilitate the rupee payment.


[wp_ad_camp_5]

 
India has been paying for its daily imports of 350,000-400,000 barrels from Iran through Turkey’s Halkbank. India currently imports around 70 percent of its Crude oil, and around 12-13% percent of the imports are from Iran.

Now there is an opportunity for Indian companies to look at investing in projects in Iran such as developing gas-to-liquid plants, mining, building roads and railways infrastructure and developing oil and gas field

Rajandran R Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

The Iran-Israel Tension and Crude Oil Trend Analysis

With ongoing tensions in the Middle East, particularly between Iran and Israel, the crude oil market finds itself once again at the mercy of...
Rajandran R
3 min read

MCX to Revolutionize Gold Trading with the New 10-gram…

The Multi Commodity Exchange of India (MCX) is poised to make waves in the commodity trading landscape with its forthcoming launch of a 10-gram...
Rajandran R
1 min read

Gold Short Term Trend Reversal: An Analysis Amid Global…

Notably, gold reached a zenith one day before escalating tensions between Israel and Iran, marked by a Volume Spread Analysis (VSA) signal on the...
Rajandran R
1 min read

One Reply to “India to pay 45 Percent of Iranian Oil Imports…”

  1. If such is the reality, India would be one of the greatest losers if we follow te US-led sanction on Iran.

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More