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Indian Oil PSUs raise import from Iran

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Oil and Petroleum Minister Dharmendra Pradhan

Iran becomes second largest oil supplier to India

Despite mounting pressure from US for reducing Iranian oil imports to “zero” by November 4 this year, Iran was the second largest oil supplier to Indian state owned refiners between April and June, replacing Saudi Arabia as companies took advantage of steeper discounts offered by Tehran.

This was disclosed by Oil and Petroleum Minister Dharmendra Pradhan on Monday in Lok Sabha. He said that the Indian oil imports from Iran in the first three months of this year have totalled 5.67 million tonnes, more than the 5.22 MT from Saudi Arabia, and less than only the 7.27 MT import from Iraq among the countries in the Middle East.

He was responding to a question from Supriya Sule (NCP) and Mullappally Ramachandran (Cong). Besides the Middle East, Indian crude imports come from countries including Nigeria, Venezuela, Egypt, and now, the United States.

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

He did not provide comparable numbers from the year-ago period. But statistics reveal that India imported about 3.46 million tonnes, or about 279,000 bpd, from Iran between April and June last year.

Oil and Petroleum Minister Dharmendra Pradhan

According to the reply by the minister, Indian Oil Corp, Chennai Petroleum Corp, Bharat Petroleum and its unit Bharat Oman Refineries Ltd, Hindustan Petroleum and Mangalore Refinery and Petrochemicals – shipped in 9.8 million tonnes of Iranian oil in 2017/18, about a quarter less than a year ago.

For this fiscal year, the refiners had decided to almost double imports from Iran, which offered almost free shipping and extended credit period on oil sales.

During April-June quarter Iraq remained to be the top oil supplier to India. New Delhi shipped in 7.27 million tonnes of oil from Iraq, while shipments from Saudi Arabia totalled 5.22 million tonnes, making it the third largest supplier.

Read More: Iran accuses India of bowing to US pressure, warns of withdrawing privileges if it cuts oil import

US has been exerting pressure on India and other major buyers of Iranian oil to cut imports from the country after Washington withdrew from multilateral Iran-nuclear deal signed in 2005 nuclear deal and decided to re-impose sanctions on Iran.

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

According to US administration the first set of sanctions will take effect on Aug. 6 and the rest, notably in the petroleum sector, following a 180-day “wind-down period” ending on Nov. 4.

Earlier Iran was the third largest oil supplier for India, after Iraq and Saudi Arabia. For Iran, India has been the second largest buyer of its oil after China.

India News

Nawaz Sharif urges Shehbaz Sharif to pursue diplomacy over aggression against India

Nawaz Sharif has advised Prime Minister Shehbaz Sharif to avoid aggression and focus on diplomacy following India’s suspension of the Indus Waters Treaty.

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Nawaz-Sharif

In a significant development amidst escalating regional tensions, former Pakistan Prime Minister Nawaz Sharif has urged his younger brother and current Prime Minister, Shehbaz Sharif, to adopt a diplomatic approach rather than an aggressive stance towards India.

During a meeting in Lahore on Sunday evening, Shehbaz Sharif briefed Nawaz Sharif about the government’s recent actions against India, following India’s decision to suspend the Indus Waters Treaty (IWT) after the Pahalgam attack. The Pakistani government, in response, had closed its airspace for India and reportedly stepped up its readiness to counter any hostile moves.

Sources indicate that Shehbaz Sharif expressed concerns about India’s suspension of the water-sharing agreement, warning that it could escalate tensions dangerously in the region. He emphasized Pakistan’s preparedness to respond strongly if necessary.

However, Nawaz Sharif, founder of the ruling Pakistan Muslim League-Nawaz (PML-N), advised a more measured path. He recommended using all diplomatic avenues to de-escalate tensions and restore peace with India. Nawaz Sharif stressed the importance of avoiding any aggressive actions that could worsen the situation.

In a related move, Pakistan’s Defence Minister Khawaja Asif has suggested the formation of an international commission comprising representatives from countries like the United States, Russia, China, and Britain to investigate the Pahalgam attack, seeking broader international involvement in addressing the conflict.

The ongoing situation between India and Pakistan remains delicate, with calls from within Pakistan’s leadership for calm and dialogue to prevent further deterioration.

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Asaduddin Owaisi criticises Bilawal Bhutto’s remarks amid Indus Waters Treaty row

Asaduddin Owaisi hits out at Bilawal Bhutto Zardari for his provocative “blood will flow” remark after India suspended the Indus Waters Treaty, highlighting the tragic consequences of terrorism.

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Pakistan Foreign Minister Bilawal Bhutto Zardari

AIMIM leader and Hyderabad MP Asaduddin Owaisi has strongly rebuked Pakistan People’s Party (PPP) leader Bilawal Bhutto Zardari over his controversial statement following India’s suspension of the Indus Waters Treaty. Owaisi reminded Bhutto of the tragic assassinations of his mother, former Pakistan Prime Minister Benazir Bhutto, and grandfather, former President Zulfikar Ali Bhutto.

Bilawal Bhutto, who was Pakistan’s Foreign Minister till 2023 and remains an influential figure in the ruling coalition, had issued a provocative warning after India’s decision, reportedly saying, “The Indus is ours and will remain ours – either our water will flow through it, or their blood.”

Responding to these remarks, Owaisi said Bhutto should reconsider his words, recalling how terrorism claimed the lives of his mother and grandfather. “Forget about such childish talk. His mother was killed by terrorists. He should not speak in this manner,” Owaisi said, stressing that terrorism must be condemned universally and not selectively.

Owaisi also criticised Pakistan’s leadership for threatening India with nuclear weapons, highlighting the brutality of recent terror attacks. “If you enter a country and kill innocents, no nation will remain silent,” he said. He compared extremist elements to the Khawarij and ISIS sympathisers, known for their radical ideologies.

The assassination of Benazir Bhutto in Rawalpindi in December 2007 has long been linked to extremist groups, though the case remains unresolved.

Bilawal Bhutto’s comments have sparked wide condemnation across India’s political spectrum. Union Minister Hardeep Singh Puri suggested that Bhutto should undergo a mental health evaluation, while Congress MP Shashi Tharoor labelled the remarks “inflammatory.” Tharoor warned that any aggression from Pakistan would be met with an appropriate response, asserting, “If blood is going to flow, it will possibly flow more on their side than ours.”

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India inks Rs 63,000 crore deal for 26 Rafale-M jets to strengthen naval fleet

India has signed a ₹63,000 crore deal with France to acquire 26 Rafale M fighter jets, strengthening the Navy’s capabilities aboard INS Vikrant and INS Vikramaditya.

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India has finalized a major ₹63,000 crore agreement with France for the acquisition of 26 Rafale M fighter jets, enhancing its maritime strength significantly. This government-to-government deal, signed on Monday, includes 22 single-seater and four twin-seater trainer variants, with delivery expected by 2031.

The deal not only covers the procurement of the jets but also includes comprehensive fleet maintenance, logistical support, and training for Navy personnel. In a notable boost to the ‘Atmanirbhar Bharat’ initiative, indigenous manufacturing of several components will be undertaken under offset obligations.

The Rafale M, currently operated only by the French Navy, is renowned for its superior capabilities among naval fighter jets globally. It features Safran Group’s reinforced landing gear, folding wings, and a robust undercarriage designed to endure the tough conditions of carrier-based operations.

The Indian Navy plans to deploy these new Rafale-M fighters aboard its aircraft carriers, INS Vikrant and INS Vikramaditya, replacing the ageing fleet of MiG-29K aircraft. This move is expected to significantly bolster India’s maritime defense capabilities, especially amid rising security challenges in the Indian Ocean region.

In December, Navy Chief Admiral Dinesh Tripathi emphasized a strategic shift to “negate” any infringement in India’s operational areas, highlighting the preparedness to counter threats from neighboring regions.

India’s Air Force, which already operates 36 Rafale ‘C’ variant jets from northern bases, will also benefit indirectly through upgrades to systems like the ‘buddy-buddy’ aerial refueling capability, allowing fighter jets to stay airborne for extended missions.

Looking ahead, the Navy is also progressing toward the induction of indigenous fifth-generation, twin-engine deck-based fighters, being developed by the Defence Research and Development Organisation (DRDO). These fighters will complement the Air Force’s upcoming Advanced Medium Combat Aircraft (AMCA), further strengthening India’s air and maritime security architecture.

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