‘Iran oil exports to India unaffected’
Press TV – January 5, 2011
India’s Petroleum and Natural Gas Ministry says Iran’s oil exports to the country will not be affected as alternative payment routes have been put in place.
“There has been no disruption in supply since [Reserve Bank of India] RBI issued new payment guidelines. A cargo for delivery on January 8 and 9 is currently being loaded in Iran and we have no problems sourcing crude from Iran,” India Today quoted India’s Petroleum Secretary S. Sundareshan as saying on Tuesday.
He also said that the National Iranian Oil Company (NIOC) is willing to accept payments from Indian oil firms through the Europaisch-Iranische Handelsbank (EIH Bank) in Hamburg, Germany.
Oil companies working with Iran like Hindustan Petroleum Corp Ltd (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) will make payments to NIOC’s EIH Bank account in Hamburg via the State Bank of India (SBI).
According to Sundareshan, the two central banks will meet in Tehran from January 14 to 16 to find a permanent solution to the matter.
Part of the meeting will involve choosing a payment currency, such as the Iranian Rial, Dirham and Yen, which are not susceptible to US pressure.
The problem arose when the Indian Central Bank said import payments to Iran would have to be settled outside the existing Asian Clearing Union (ACU) mechanism.
Under the ACU mechanism, every two months imports by the nine member-nations are settled by every member paying for its import surplus.
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The Garlic Book — 2026
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The book is in four parts.
Part One, The Record, treats the history of garlic as evidence. From the clay garlic bulb placed in an Egyptian grave nearly six thousand years ago, through the Ebers Papyrus, through Hippocrates, Dioscorides, Pliny and Galen, the Arab physicians under Avicenna, the medieval herbals, Culpeper, and the plague years, to the last era in which Western physicians prescribed garlic as a matter of course, which ran from 1850 to 1945. It closes with the living traditions that never stopped using it, and with the folklore of charms, vampires and the evil eye.
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