As settlement in dollars has become difficult due to sanctions imposed against Iran, India and Iran will explore other currencies like the euro, yen and dirham to resolve the stalemate over payment for oil imports at their meeting later this week in Tehran.
The reversal of Trump's policy with regard to Iran, like the withdrawal from the Paris Agreement, may not be a matter of just turning the clock back, but one of patient negotiations, with uncertain consequences in the post-COVID-19 world, observes Ambassador T P Sreenivasan.
The auction will also feature works of M F Husain, as well as early works by masters Tyeb Mehta and Francis Newton Souza.
'The stage is set for increasing tensions in a highly volatile region as crucial as ever from a geopolitical standpoint,' predicts Claude Smadja.
A sharp decline in crude and strengthening of the rupee added to the buoyancy.
'None of these three countries -- Turkey, Iran or Malaysia -- ever made a hostile move against India to support the Pakistan-based terrorist elements,' notes Ambassador M K Bhadrakumar.
India's $22 billion deal to import liquefied natural gas from Iran hangs in balance with Tehran on Tuesday asserting that the agreement was not binding as it has not been ratified by its Supreme Economic Council.
In a major diplomatic breakthrough, the foreign ministers of United States and Iran will hold talks on Tehran's controversial nuclear drive at a landmark meeting on Thursday -- the first between the two states in more than 30 years.
ONGC and the Hinduja group are lining up investment of close to $20 billion in exploration assets in Iran and a refinery and LNG terminal in India.
Iran was involved in bomb plots targeting Israeli diplomats in India, Thailand and Georgia in February, according to a media report. In India, local agencies believed that a bomb attack which badly injured the wife of the Israeli military attache in New Delhi in February was the work of an Iranian 'security entity'.
India and China have already rejected the US' sanctions move.
Union oil and petroleum minister Ram Naik will travel to Tehran to discuss the prospect of importing liquefied natural gas and to boost bilateral cooperation in the energy sector.
ONGC Videsh, Indian Oil Corporation and Oil India have together proposed to invest $3 billion in developing the Farsi gas field in Iran.
Talks on the Iran-Pakistan-India gas pipeline project are in the final stage where the technical aspects are being looked into, according to Iranian Deputy Oil Minister Reza Kasai'i Zadeh.
Nine Indian sailors who were in a jail in Iran on charges of smuggling have been released and will reach Delhi on Wednesday, External Affairs Minister Sushma Swaraj informed.
Foreign Minister Mohammad Javad Zarif tweeted that the attack near the Iraqi border was carried out by 'terrorists recruited, trained, armed & paid by a foreign regime'.
"We are committed to building a new India. We have to do this as early as possible," he said.
Emirates and Etihad Airways have over the past year continued to lobby India to allow them more flight slots, which won't be possible until the 2007 pact is revised.
If things work out, it will be a great leap forward in the Indian-Iranian economic ties in the new phase of Iran's reintegration with the world market following the lifting of sanctions, says Ambassador M K Bhadrakumar.
BWith a distracted president brooding in the White House, Pompeo seems to think his day has come. He seems to be pushing a personal agenda before a target audience in America, observes Ambassador M K Bhadrakumar.
'By annoying the Arabs and cozying up to Iran, Pakistan may end up losing Arab economic support, annoying the Americans and increase Shia-Sunni tensions domestically,' Colonel Anil A Athale (retd) points out.
Four fishermen who traveled to the Middle East, dreaming of earning more money, instead ended in an Iranian jail.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
Iran on Tuesday denied existence of any contract for export of liquefied natural gas to India while stating that it cannot wait endlessly for New Delhi to join the Iran-Pakistan-India gas pipeline project.
Differences over the price of natural gas to be imported through the Iran-Pakistan-India pipeline persisted on Friday, but the three countries agreed to appoint an international consultant to look into the issue.
This is the third time that a Brazilian president was the chief guest at the Republic Day. The last time a Brazilian president was the chief guest was in 2004 when Luiz Inacio Lula da Silva attended the parade.
India has experienced hands and will emerge with flying colours, declares Inspector General Gurdip Singh Uban (retd).
The government is buying out the shares of India Ports Global, which are now held in a 60-40 ratio by the JNPT and Deendayal Port Trust in Kandla.
Iran said it hoped all aspects of a $7-billion pipeline to transport natural gas from the country to Pakistan and India would be finalised in next two months.
Sources had earlier said Modi and Putin would also deliberate on impact of US sanctions on import of crude oil from Iran.
The known unknowns in Prime Minister Modi's Saudi visit assume great significance, says Ambassador M K Bhadrakumar.
The dollar index was trading lower by 0.03 per cent against its major global rivals today.
Persistent fall in crude oil prices affected the market sentiment
The US has slapped sanctions against a number of international companies and individuals for evading sanctions against Iran and for providing support for its contentious nuclear programme.
Prime Minister Narendra Modi on Sudnay arrived in Tehran on a two-day visit.
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
A decision on the multi-billion dollar gas pipeline between Iran and India, which will pass through Pakistan will be made in two weeks, a senior Iranian minister said in Kuala Lumpur on Monday.
India and Iran have failed to seal a LNG-for-oil field deal with Tehran offering a "very high" price for the 5 million tonnes LNG it plans to sell to New Delhi.
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