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India Increases Iranian Oil Imports In June By 48 Percent

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India Increases Iranian Oil Imports In June By 48 Percent

Despite US pressure New Delhi and Tehran preparing to continue trading

Despite US pressure to reduce Iranian oil imports to zero by November this year, Indian refiners have imported 48 percent more oil from that country in June than a year ago, Minister for Petroleum and Natural Gas Dharmendra Pradhan has said in Lok Sabha on Monday.

Pradhan told the law makers that India’s refiners bought around 664,000 barrels per day (bpd) of Iranian oil in June this year, 48 percent more than the volume they purchased in the same month last year.

“Indian refiners imported 1.9 million tons (447,000 bpd) of crude oil from Iran in June 2017 and placed orders for 2.82 million tons in June 2018”, the minister said in a statement.

Read More: Indian Oil PSUs raise import from Iran

According to Pradhan, India loaded about 715,600 bpd oil from Iran in April-June 2018 period, a rise of about 45 percent from the previous quarter.  However, India’s private refiners are reportedly working to source oil from Saudi Arabia, Russia, Iraq and US and others to offset cuts in Iranian oil under US sanctions.

India Increases Iranian Oil Imports In June By 48 PercentAccording to Tehran based Press TV, new US sanctions on oil and transactions with the Central Bank of Iran are about to come into effect on November 4. The US has warned third countries against buying Iranian crude amid a rise in Washington’s attempts to choke Iran’s oil revenue.

Last month India has allowed Iran’s Bank Pasargad to open a branch in Mumbai. The Finance Ministry conveyed to RBI that it has no objection in allowing the Tehran based bank to open its branch in India.

Read More: Germany asks India to continue buying oil from Iran

In May this year, Minister of External Affairs Sushma Swaraj made it clear that India does not recognize country-specific sanctions. She was quoted saying, “Our foreign policy is not made under pressure from other countries. We recognize UN sanctions and not country-specific sanctions”.

Indian embassy in Tehran has also issued a statement saying, “Iran has always been a reliable energy partner for India and others, seeking a balanced oil market and regional prices of oil which ensure the interest of both countries as consumer and supplier.”

Tehran has offered to insure oil cargoes to India after some insurers stopped providing the service in the face of the impeding sanctions, Press TV reports.

In February this year, Iranian President Hassan Rouhani while visiting New Delhi promised to increase crude oil imports from Iran from 205,000 bpd in 2017-18 to 396,000 bpd in 2018-19.

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

Meanwhile, the Indian Oil Ministry has revealed that India and China have discussed the possibility of forming an “oil buyers’ club” that can negotiate better terms with sellers.

India Increases Iranian Oil Imports In June By 48 PercentDhirendra Pradhan, while speaking in the parliament said, “Meetings have been held between India and China, both at ministerial and company levels. During these meetings both sides expressed interest to cooperate and collaborate to deal with high crude oil and gas prices, including through increased communication between companies to work towards control and reduce spikes in prices.”

In May this year, US President Donald Trump had withdrawn US from multilateral Iran-nuclear deal signed by P5+1 and Tehran, which came into effect in January in 2016. US has announced to re-impose sanctions in two stages in August and November this year.

India News

Gujarat Jain couple donate Rs 200 crore wealth, renounce world

The Bhandari couple was accompanied by 35 individuals in February and led a 4 km procession during which they donated all their belongings, from mobile phones to air conditioners.

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A Gujarat-based businessman and his wife have donated their lifetime earnings of Rs 200 crore and have taken the decision to renounce all materialistic desires to become Jain monks. In February this year, Bhavesh Bhandari and his wife donated all their wealth during a ceremony. The Bhandari family, which hails from Himmatnagar, has been in the construction business. The family decided to follow in the footsteps of their 16-year-old son and 19-year-old daughter, who adopted monkhood in 2022.

Bhavesh Bhandari, who belongs to a Jain family, had been a part of construction business in Ahmedabad and Sabarkantha and was accustomed to a life of luxury and prosperity from a young age. The Bhandari couple was accompanied by 35 individuals in February and led a 4 km procession during which they donated all their belongings, from mobile phones to air conditioners. A short video clip from the event shows the couple wearing regal attire on top of a chariot and making donations. Adorned in rich attire and jewellery, they stood atop a truck adorned to resemble a chariot, tossing garments and banknotes to the people standing below,

After the couple made their pledge on April 22 to adopt monkhood, the couple is going to break all familial relations and renounce any material possessions and desires. Afterwards, they will begin a barefoot journey across India and will sustain themselves solely on alms.

According to reports the couple will be allowed to own two white garments, an alms bowl, and a rajoharan, a white broom used by Jain monks to clear insects from an area before sitting — a symbol of the non-violent path which they follow. In a similar incident in January, the 8-year-old daughter of a Gujarati diamond merchant renounced material comforts and worldly desires to embrace monkhood. Devanshi Sanghv had participated in a grand procession with camels, elephants, horses and great fanfare before embracing a life of monkhood.

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Lok Sabha elections 2024: BJP releases 12th list of candidates, Udayanraje Bhonsle to contest from Satara

The BJP on Tuesday released its 12th list of seven candidates for the upcoming Lok Sabha elections

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The 12th list of seven candidates for the Lok Sabha elections, which are scheduled to start on Friday, was announced by the BJP on Tuesday. Among the seven candidates is Chhatrapati Udayanraje Bhosale, the 13th descendant of Chhatrapati Shivaji Maharaj, who will contest from Satara, Maharashtra, and Abhijit Das Bobby, who represents Diamond Harbour in West Bengal.

The current MP for the Trinamool Congress, Abhishek Banerjee, has been paired against Abhijit Das Bobby, who contested unsuccessfully for the Diamond Harbour seat in the general elections of 2009 and 2014.

Abhishek Banerjee won in the 2014 Lok Sabha elections with 40.31 percent of the vote, while Abhijit Das secured 15.92 percent of the vote to finish third. Dr. Abul Hasnat of CPI(M), who received 34.66% of the vote, came in second.

With 7,91,127 votes, the leader of the Trinamool Congress party was able to hold onto the seat in 2019. Nilanjan Roy of the BJP received 4,70,533 votes, while Fuad Halim of the CPI(M) secured third place with 93,941 votes.

The 13th descendant of Chhatrapati Shivaji Maharaj, Chhatrapati Udayanraje Bhosale, is another prominent figure on the list. He is contesting for the Satara Lok Sabha constituency in Maharashtra as a member of the BJP.

In the 2019 by-election, Bhosale—a former leader of the NCP who joined the BJP in 2022—lost the seat. There has been a back-and-forth in the seat on the Lok Sabha election candidate between the BJP and NCP.

Shashikant Shinde has received his ticket from the NCP (SP).

Shashank Mani Tripathi from Deoria and Thakur Vishwadeep Singh from Firozabad are the final candidates on the BJP’s 12th list.

In Uttar Pradesh, there are two seats.

Meanwhile, Union Minister Som Prakash’s wife Anita Som Prakash, who is a resident of Punjab, will contest for the Hoshiarpur seat in lieu of her husband.

Manjeet Singh Manna Miawind from Khadoor Sahib and Parampal Kaur Sidhu from Bathinda are the other two candidates, both of whom are from Punjab.

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Prime Minister Narendra Modi says RJD is responsible for destroying Bihar, slams Lalu’s party over various corruption cases

The prime minister made a scathing attack at the opposition and said Ghamandia Gathbandhan has no vision or trust. He said when INDIA bloc alliance goes out asking for votes, then they do so on the basis of the work done by Bihar Chief Minister Nitish Kumar.

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Prime Minister Narendra Modi on Tuesday said that India and Bihar are moving forward to return to their ancient glory and added the upcoming Lok Sabha elections is an election to take a resolve for developed India and developed Bihar. PM Modi was addressing an election rally in Bihar’s Gaya, where he said that the public support that has gathered on the land of Gaya clearly shows enthusiasm of the people once again for the Modi government.

The prime minister spoke on BJP’s manifesto for the upcoming Lok Sabha elections and said that it is for the first time that a Sankalp Patra of any party is being called a guarantee card as in the last 10 years, people have seen Modi’s guarantee for fulfillment of a guarantee.

PM Modi said for the next five years, Modi’s guarantee card has been updated. He promised 3 crore houses will be made for the poor, the poor will get free ration for the next 5 years and those above 70 years of age will receive free treatment upto Rs 5 lakhs He said the PM-Kisan Samman Nidhi yojana will be continued and all of these are Modi’s guarantees.

The prime minister made a scathing attack at the opposition and said Ghamandia Gathbandhan has no vision or trust. He said when INDIA bloc alliance goes out asking for votes, then they do so on the basis of the work done by Bihar Chief Minister Nitish Kumar. PM Modi said the people of Bihar know why they try and take credit for the work done by Nitish and the central government.

The prime minister said RJD is responsible for destroying Bihar and slammed Lalu’s party over various corruption cases including land for jobs scam, fodder scam. Speaking about BJP’s manifesto PM Modi said, there is a roadmap for every section and sector of the society.

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