Oil prices dipped on Wednesday as the market prepared for a gradual increase of Iranian exports into an already oversupplied market from 2016.
The number of American diplomats in the US Embassy in Moscow and its four consulates across the country should be reduced to 455 by September 1, which is the same as the number of Russian diplomats currently serving in the US.
Israel has called for Iran's expulsion from the United Nations for its calls to wipe out the Jewish state from the world map and expressed fears over the "nuclear threat" posed by Tehran.
Iran can now unlock $4.2 billion of payments for its oil stuck with major clients including India, China, Japan and South Korea after it reached an interim deal with six world powers in November over its nuclear programme.
Oil accounts for about a third of India's total imports and higher dollar prices combined with a rupee near all-time lows have increased its cost.
Or Iran may face the risk of losing its biggest client
A senior government official says the idea is to facilitate mutually beneficial ways to keep the supply going.
General Soleimani headed the Islamic Revolutionary Guard Corps's Quds Force and also served as Iran's pointman on Iraq.
Cover inadequate for even one refinery.
Foreign Secretary Ranjan Mathai, who is visiting Washington, DC, has cautioned that India is unlikely to go along with tough sanctions against Iran even as the paranoia over that country's alleged nuclear weapons programme reaches fever-pitch. He also warned that any military action in the Gulf would plunge that region into grave instability and chaos.
India has slashed import of crude oil from Iran by over 26.5 per cent in the financial year ended March 31 as US and European sanctions made it difficult to ship oil from the Persian Gulf nation.
To the extent the nuclear race in West Asia is slowed down by the Iran nuclear deal, the world as a whole has reason to be happy, says Virendra Kapoor.
Rediff.com's A Ganesh Nadar's report on the fishermen arrested by Iran gets government moving, MEA sanctions money for their flight home
State Bank of India (SBI) is willing to work with Russian banks not facing sanctions and remain on the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network to open a special rupee vostro account (SRVA) for invoicing in Indian currency. The country's largest lender in a statement said it has not been identified as the nodal bank for handling Russia-related transactions. In July, the Reserve Bank of India (RBI) allowed banks in India, including SBI, to open an SRVA to promote invoicing in Indian rupee, subject to certain safeguards. Accordingly, the bank in a statement said it is "making necessary arrangements and processing requests received from various banks, including Russian banks", following guidelines laid out by the RBI.
The two Indian firms are Sabero Organics Chemical and the Sandhya Organics Chemical.
It issued the denial after top regulator threatened to revoke its licence and impose fines for helping Iran circumvent sanctions.
Hassan Rouhani, a moderate cleric who was a surprise winner in the recent elections, took oath on Sunday as Iran's seventh president at a ceremony attended by a galaxy of world leaders, including Vice President Hamid Ansari, with which he has pledged to expand ties.
Pakistan has decided to ask the new Iranian government to completely finance a $1.8-billion bilateral gas pipeline project due to fears that US sanctions could hit funding for the venture.
The Chabahar port, says Ambassador M K Bhadrakumar, 'can be the first significant footfall in an Indian variant of the 'Belt and Road' initiative.'
India and Iran on Monday decided to jointly combat terror, radicalism and cyber crime as the two strategic partners signed 12 agreements including a "milestone" pact on developing the key Chabahar port for which India will provide $500 million.
India, with the increases already made in the January-March loading plans from Iran, has to cut its purchases of the crude to about 110,000 barrels per day.
"I am well aware of the difficulties involved in thwarting Iran's attempts to acquire a nuclear weapon... however, it is clear to me without a doubt that dealing with the threat itself will be far more complicated, far more dangerous and far more costly in resources and human life," Barak was quoted as saying by the Haaretz online.
The United States on Thursday put Iran "on notice" for test-firing a ballistic missile and warned of consequences for its "malign actions", signalling a more hardline stance against Tehran that could set the stage for renewed confrontation between the two nations.
After drastically cutting imports from Iran, India is hoping to win waiver from US financial sanctions on its oil trade with Iran so as to continue to getting supplies from the Persian Gulf nation.
Asserting that the latest Iranian announcements were an effort to distract attention from international sanctions' pressure, the White House said it was keeping a close watch on Tehran and consulting with allies.
India has asked refiners that owe about $6.5 billion to Iran for oil imports to build up dollar and euro balances to avoid downward pressure on the rupee if six world powers and Tehran reach a final nuclear deal.
Prime Minister Dr Manmohan Singh said Monday that India has unambiguously said it's against Iran developing or acquiring nuclear weapons and that if the United Nations Security Council slaps sanctions against Tehran, it would support such action, but hoped United States President Obama's outreach to Iran on this issue would yield a compromise that doesn't necessitate such an outcome.
'A Russia-Iran-China-Pakistan geopolitical grouping is evolving at this point of time.' 'Given that the grouping is in its nascent stages, will this week's terrorist attack in Mirjaveh affect it?' asks Aveek Sen.
Recently, Iran and western powers signed a deal in which it was agreed the West Asian nation would scale down its nuclear programme in exchange for a cut in economic sanctions.
Reliance Industries has since April stopped selling gasoline and gas oil to Iran in an apparent bid to escape sanctions by the US, where it is eyeing an acquisition.
United States President Barack Obama has said that he would order the US military to destroy Iran's nuclear programme as a final option, if economic sanctions fail to compel Tehran to shelve its nuclear ambitions. "I don't bluff," Obama said while delivering his most explicit threat to Tehran till date, warning that "all options are on the table" and that the final option is the "military component."
Iran blamed America for the cancellation saying they had delayed the issuance of visas to the crew of the special plane that would have carried Ahmedinejad to New York for the meeting.
India on Friday said it could not ignore the conclusions of the International Atomic Energy watchdog IAEA on Iran's nuclear enrichment programme before deciding to vote against Tehran, but felt the door for dialogue with it should be open.
Developing the Chabahar port in Iran addresses India's geopolitical as well as economic challenges, says Jyoti Malhotra
United States President Barack Obama and visiting British Prime Minister David Cameron on Wednesday pledged to prevent Iran from acquiring nuclear weapons, but noted that there is still time and space for diplomatic options which is shrinking.
Krishna emphasised that India takes decision taking into consideration its domestic energy requirements.
Foreign ministers trying to reach an agreement on Iran's nuclear programme in Vienna are considering extending the negotiations as the Monday deadline looms large with "serious gaps" in the dialogue.
US, EU have shut down the use of their financial systems for Iranian crude trade.
The meeting of the foreign ministers of the P5+1 nations aimed to smoothen out major bumps in reaching a nuclear deal with Iran has ended with a positive note.
