Wednesday, 19 June, 2019

India will break United States sanctions and keep importing Iranian oil

The Kiira EV Smack was built by students of Makerere University. FILE Ugandan-made Kiira EV Smack. Tehran has been keen to fund Kampala’s Kiira Electronic Vehicle Project
Jean Garcia | 10 October, 2018, 20:51

Elsewhere, the second largest importer of Iranian oil, India, is planning to purchase 300kbpd of Iranian oil in November.

"We export as much as two barrels for any barrel that disappeared from Iran recently", Prince Mohammed told Bloomberg. This would signal an attempt to bypass US sanctions on Iranian transactions using the dollar - the dominant currency in global oil trade.

According to an executive order (EO 13846) issued by President Donald Trump, all American and non-American entities were given a six-month "wind-down" period from May 2018, in which to "zero out" all transactions with designated Iranian oil companies and port operators.

Secretary of State Mike Pompeo said on a visit to India in September that some waivers from the sanctions might be granted to countries buying Iranian oil, but only if they agreed to cut their imports to zero.

Pradhan also added the country was considering evolving a different payment system to buy Iran's oil and that it could pay using Indian rupees.

The imposing the sanctions because Iran has reneged on a 2015 nuclear deal-a point on which other major powers disagree-and because it wants Iranian forces to pull out of Syria and Iraq. Last week, the Saudis hastened to inform the market that they are now pumping 10.7 million bpd-just shy of the all-time record high-and could even tweak that 10.7 million "slightly higher" next month. "We continue to discuss our Iran policy with our counterparts around the world and the implications of our re-imposition of sanctions previously lifted or waived under the JCPOA".

Apple Watch Series 4 bootloops due to Daylight Savings Time
It packs a bunch of cool new features, FDA-approved ECG included, and has a powerful new S4 processor, which is more than welcome. The Watch costs $399 and comes with top features like ability to take ECG, fall detection, improved speaker, watch OS 5 and more.

"There is growing concern that suppliers such as Saudi Arabia and Russian Federation will struggle to compensate for potential production declines from Iran and Venezuela, which has supported oil prices in today's trading session", said Abhishek Kumar, senior energy analyst at Interfax Energy in London.

"These officials are planning to announce that it's OK to give banks waivers because re-imposed sanctions on businesses are sufficient", the source explained.

India is Iran's top oil client after China, though several refiners have indicated they will stop taking Iranian barrels because of the sanctions.

Oil prices have extended a rally on expectations the sanctions will test the Organization of the Petroleum Exporting Countries and other producers.

There are concerns a shortfall in Iran's oil production could prompt global oil supply to fall and prices to rise.

Has the simmering crude oil market peaked, even if for the time being?


Lady Gaga mental health essay calls for funding and awareness Lady Gaga mental health essay calls for funding and awareness According to the global agency, 10 to 20 per cent of children and adolescents worldwide suffer from mental disorders. One such discussion was held on Twitter earlier this year during May, which is considered as Mental Health Month.

Hurricane Michael Expected to Make Landfall Wednesday Hurricane Michael Expected to Make Landfall Wednesday EDT, Michael was centered was about 90 miles (145 kilometers) from Panama City and Apalachicola, moving fast at 13 mph (21 kph). More than 2.1 million residents of at least 20 Florida counties were under mandatory or voluntary evacuation orders.

Meghan Markle's ex-husband Trevor Engelson gets remarried Trevor is said to have met Tracey in 2017 and she is credited with helping him to come to terms with Meghan's new relationship. In a truly weird moment during the interview, she also showed off the cardboard cutout she bought of Meghan's face in London.

Draconids ‘dragon meteor shower’ blaze across Russia & US skies The color of the meteors will be the same that is in the red and yellow colors, but will vary its brightness. As Earth passes through the comet's tail, the debris from the meteor burns up - causing shooting stars.

Fabinho speaks out after quiet start to Liverpool career Fabinho speaks out after quiet start to Liverpool career Fabinho remained on the bench as an unused substitute during Liverpool's 0-0 draw against Manchester City on Sunday. Following the global break, Chelsea face struggling Manchester United at Stamford Bridge.

Google Pixel 3 XL Goes On Sale Before Official Launch Google Pixel 3 XL Goes On Sale Before Official Launch The phones come in black, white , and an pinkish off-white that Google archly calls "not pink", but which is, of course, pink. If you wish to grab Pixel Slate , you are supposed to shell out $599, and for keyboard and pen, it's additional $199 and $99.

Google unveils new AI-powered Pixel phones and a smart home hub But Android Pie and subsequent changes within Google core apps show that Android as an ecosystem continues to grow in strength. It's not a new technology in reality as many recommend the best photo - but we can't wait to try it out in the real world.

Up Next: Tropical Storm Michael Up Next: Tropical Storm Michael Swells are expected to begin affecting the coast of the eastern and northern Gulf of Mexico during the next day or so. The last major hurricane to hit the Panhandle was Hurricane Dennis in 2005, according to hurricane centre data.

Verizon retains exclusive on Google's Pixel 3 And in an effort to protect you from you, Google has also added Digital Wellbeing to monitor and limit your device and app usage. The device features Home View, a dashboard for the spectrum of home devices, including appliances, DVRs, lights and thermostats.

PlayStation announce when you'll be able to change your PSN ID PlayStation announce when you'll be able to change your PSN ID To make the change, authorized users can access the feature through the Settings menu or via the Profile page of your PS4. The pricing for Europe will be €9.99/£7.99 for regular PSN members, and €4.99/£3.99 for PlayStation Plus subscribers.

Vatican defends Pope against 'blasphemous' cover-up claims Vatican defends Pope against 'blasphemous' cover-up claims It is false to present the measures taken in his regard as "sanctions" decreed by Pope Benedict XVI and revoked by Pope Francis . McCarrick escaped being sanctioned because "at that time, unlike today, there was not sufficient proof of his alleged guilt".

Taylor Swift Brings Friend Claire Winter to AMAs 2018! Taylor Swift is ready for the "next chapter!" "I'm even more excited about the next chapter". Watch all the performances below (bare with us as we find all the links).

New Reports Add Detail To Disappearance Of Saudi Journalist Jamal Khashoggi Turkey has said it will conduct a search, but has also asked for definitive proof that Mr Khashoggi left the building. Turkish officials fear he was killed inside the building and his body removed.

DC Comics hires James Gunn after Disney fires him O'Connor had been hired to both write and direct the film and was hard at work on the project for the past year. However, yesterday the news broke that Gunn is now in talks with DC to tackle the sequel to Suicide Squad .

Virgin to be in space 'within weeks' Virgin to be in space 'within weeks' Branson said in May that Virgin Galactic and Bezos' Blue Origin were tied in the race for the first commercial spaceflight. At the time Branson added that he hoped to become an astronaut within a year with Virgin Galactic.