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India under US pressure to cut oil imports from Iran, Govt says exploring all options

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Two days after US said it would not waive sanctions to India or any country if they do not stop oil imports from Iran by November 4, and a day after it called off the ‘2+2’ dialogue slated for July 6, reports suggested India was preparing to stop buying oil from Iran.

India’s oil ministry has asked refiners to prepare for a “drastic reduction or zero” imports of Iranian oil from November, said a report by news agency Reuters quoting two persons from the industry.

The Indian government said it is evaluating ‘all options’ to ensure the country’s energy security, reported LiveMint. “We feel that Iran is a traditional partner. We have historical civilisational linkages with Iran,” said Raveesh Kumar, spokesperson for India’s ministry of external affairs on Thursday.

“It should be noted that the statement was not India specific and it applies to all countries across the world. As far as we are concerned, we will take all necessary steps including engagement with relevant stakeholders to ensure our energy security,” Kumar added.

This comes in the backdrop of US Ambassador to the United Nations Nikki Haley urging Prime Minister Narendra Modi on Wednesday to stop oil imports from Iran. She was on a visit to India.

At the same time, the inaugural India-US “2+2” dialogue between the foreign and defence ministers of the two countries that was to be held in Washington on 6 July was postponed for a second time. “This scheduling change was prompted by reasons entirely unrelated to the bilateral relationship,” the US embassy in New Delhi said in a statement on Thursday. Iran’s oil import was expected to have been a major topic of discussion at the 2+2 dialogue.

Also, on Wednesday, June 27, a PTI report said US has told all countries, including India and China, to stop their oil imports from Iran by November 4 or face sanctions for carrying out any transaction with Tehran as there would be “zero” waivers to any country.

India views Iran as a gateway to Afghanistan and Central Asia besides a key source of energy. In a recent press conference, Indian foreign minister Sushma Swaraj said that India would only adhere to UN sanctions and not unilateral strictures placed by countries.

According to news wire agency Press Trust of India, petroleum minister Dharmendra Pradhan on Thursday in Mumbai said that the government “will go by the national interest.”

Reuters report quoting industry people said India, the biggest buyer of Iranian oil after China, will be forced to take action to protect its exposure to the US financial system. India’s oil ministry held a meeting with refiners on Thursday, urging them to scout for alternatives to Iranian oil, the people said.

“(India) has asked refiners to be prepared for any eventuality, since the situation is still evolving. There could be drastic reduction or there could be no import at all,” said one of the sources, who has knowledge of the matter.

During the previous round of sanctions, India was one of the few countries that continued to buy Iranian oil, although it had to reduce imports as shipping, insurance and banking channels were choked due to the European and US sanctions.

One of the persons quoted above said this time the situation is different, reported Reuters. “You have India, China and Europe on one side, and US on the other… At this moment we really don’t know what to do, but at the same time we have to prepare ourselves to face any eventuality,” said this person.

The US push to curb countries’ imports of Iranian oil comes after President Donald Trump withdrew from a 2015 deal between Iran and six world powers and ordered a reimposition of sanctions on Tehran.

Some sanctions take effect after a 90-day “wind-down” period ending on 6 August, and the rest, notably in the petroleum sector, following a 180-day “wind-down period” ending on 4 November.

Companies halt imports

Under pressure from the US sanctions, Reliance Industries Ltd, the operator of the world’s biggest refining complex, has decided to halt imports.

Nayara Energy, an Indian company promoted by Russian oil major Rosneft, is also preparing to halt Iranian oil imports from November after a communication from the government, a second source said. The company has already started cutting its oil imports from this month.

Indian Oil Corp. Ltd, Mangalore Refineries and Petrochemicals Ltd and Nayara Energy, the top three Indian buyers of Iranian oil, and the oil ministry did not respond to Reuters’s request for comments.

Removing Iranian oil from the global market by November as called for by the US is impossible, an Iranian oil official told the semi-official Tasnim news agency on Wednesday.

The options to find replacements to Iranian oil have widened after Opec agreed with Russia and other oil-producing allies last week to raise output from July by about 1 million bpd, with Saudi Arabia pledging a “measurable” supply boost but giving no specific numbers.

Saudi Arabia’s plans to pump up to 11 million barrels of oil per day (bpd) in July would mark a new record, an industry source familiar with Saudi oil production plans told Reuters on Tuesday.

The second source said there were plenty of options available in the market to replace Iranian oil. “There are companies and traders that are willing to give you a 60 day credit, crude is available in the market,” the source said.

To boost its sales to India, Iran recently offered virtually free shipping and an extended credit period of 60 days.

“We can buy Basra Heavy, Saudi or Kuwait oil to replace Iran. Finding replacement barrels is not a problem, but it has to give the best economic value,” a third source in New Delhi said.

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Google restores delisted Indian apps after government intervention

Google on Saturday restored all Indian apps it had removed.

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Google has started to restore all the delisted Indian mobile apps on Play Store agian, which they had removed due to a disagreement over service fees. After a discussion between company representatives and IT Minister Ashwini Vaishnaw, the decision was made, according to sources.

The step was taken in response to Vaishnaw’s strong statement in which he said that it is not allowed for apps to be removed from the Google Play Store. The minister had said, India is very clear, our policy is very clear…our startups will get the protection that they need.

Vaishnaw  continued saying that he has already given Google a call. They will be speaking with the app developers who were delisted this week. This is not acceptable. The minister said this kind of delisting cannot be permitted.

Ten Indian companies’ apps were banned by Google on Friday, causing outrage in one of its fastest-growing markets. With 94% of phones running on its Android platform, Google holds a large portion of the Indian market. Popular names like Naukri and Bharatmatrimony were on the list.

The main point of contention is Google’s in-app purchase fees, which range from 11% to 26%. Indian startups have long opposed the US tech giant’s actions, believing them to be unfair.

The founder of Bharat Matrimony, Christian Matrimony, Muslim Matrimony, and Jodii, Matrimony.com, expressed shock at the matchmaking apps’ removal from the Google Play Store.

Shaadi. Com CEO Anupam Mittal described it as a dark day for India’s internet, highlighting the possible broad effects on matchmaking services. He also called Google an evil.

While, Kuku FM Co-founder Vinod Kumar Meena in a statement had said that Google was behaving like a monopoly.

Meanwhile, Google temporarily withdrew the famous Indian payments app Paytm from the Play Store in 2020, claiming a few policy infractions. Due to this decision, the founder of the company as well as the larger startup community came together to build their own app stores and file lawsuits against Google.

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Anant Ambani says he is 100% lucky to get Radhika Merchant in his life

Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her. He added although he had known Radhika for the last 7 years, it felt he had met her only yesterday. He thanked Radhika for everything.

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Anant Ambani and Radhika Merchant’s grand three-day wedding celebrations began with a glamorous cocktail night on Friday in Jamnagar. During the celebrations, Anant Ambani also gave a speech wherein he thanked his late grandfather Dhirubhai Ambani and grandmother Kokilaben Ambani for inspiring him. Anant Ambani said he was grateful to get Radhika as his life partner. He said he is 100% lucky to get Radhika Merchant in his life. He said every day he is falling more and more in love with her.

He expressed his gratitude to his mother for pulling together the lavish three-day wedding celebrations in Jamnagar. Anant thanked his mother for all she had done. He said all the arrangements had been done by his mother and nobody else. He added his mother had gone all out and she had worked 18-19 hours a day and he was extremely grateful to her.

He also thanked all the guests who were present there at the pre-wedding celebrations. He said everyone had made it to Jamnagar to make him and Radhika feel special. He said both of them were honored and humbled to have all of them present there. Anant said he was sorry if they had caused an inconvenience to anyone. He asked for forgiveness. He hoped everyone is going to enjoy the coming three days. He also thanked his mother, father, sister, brother, his sister-law and his brother in-law for making this event memorable.

Anant said everyone has been sleeping for less than 3 hours a day for the last 2-3 months and he was very happy to share this joy with everyone. The youngest Ambani talked about his personal struggles and how his parents had always supported him. He further added his life had not been entirely a bed of roses. He said he had also experienced the pain of thorns. He said he had faced many health crises.

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Facebook chief Mark Zuckerberg shares pictures from 2nd day of Anant Ambani and Radhika Merchant pre-wedding celebrations

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

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Facebook boss Mark Zuckerberg and wife Priscilla Chan joined the star- studded pre-wedding celebrations of Anant Ambani and Radhika Merchant in Jamnagar on Friday. The event was attended by many prominent figures from different fields. Zuckerberg took to his Instagram handle congratulated the couple and said he loved Indian weddings.

Zuckerberg shared pictures from the 2nd day of Anant Ambani and Radhika Merchant’s pre-wedding celebrations. In the photograph Mark Zuckerberg can be seen along with his wife Priscilla Chan. The couple is exuding happiness as they prepare for the event. He captioned the picture it is getting wild out here.

The theme of the opening day of the pre-wedding celebrations was Evening in Everland as the guests wore cocktail attire. The first day of the grand celebrations elevated the expectations of the guests for the following days. The theme of the 2nd day of the pre-wedding bash is known as a Walk on the Wildside and the guests can be seen in Jungle Fever attire.

Zuckerberg has opted for an animal print shirt with white trousers, Chan is complementing his look in a strappy one piece in black and golden. The Jungle theme is aligned to Vantara, Reliance’s animal welfare initiative undertaken and launched by Anant Ambani a few days back.

International pop star Rihana electrified the pre wedding celebrations on Friday with an amazing performance, marking her debut appearance in India. The chart topping artist engaged the audience with performances of her iconic hits which included Pour it Up, Work and Diamonds.

Zuckerberg graced the opening day, wearing a black-on-black firefly blazer and shoes from Alexander McQueen while his wife Priscilla wore a black gown with gold flower details and other accessories such as dainty chain bracelet, gold necklace and stud earrings. Mark Zuckerberg and wife Priscilla Chan are one of the Power couples invited from the global business community for the festivities currently underway at Jamnagar.

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