Tuesday, 24 January 2012 17:35
India to pay gold for Iran oil, China may follow
Jan 24 -India has reportedly agreed to pay Tehran in gold for the oil it buys, in a move aimed at protecting Delhi from US-sanctions targeting countries who trade with Iran.
China, another buyer of Iranian oil, may follow Delhi’s lead.
The report, by the Israeli-based news website DEBKAfile, states that Iran and India are negotiating backup alternatives with China and Russia, should the US and EU find a way to block the gold payment mechanism.
India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both are superpowers in terms of gold assets, Russia Today reported./-
http://www.iranwpd.com/index.php?option=com_k2&view=item&id=2974:india-to-pay-gold-for-iran-oil-china-may-follow&Itemid=66
All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.
No comments:
Post a Comment