21/03/2015
Sanctions prevent Tehran from access to the global banking system
City India to Iran for $ 8.8 billion oil dues
Nirmala Seetharaman Indian Trade Minister yesterday revealed debts owed about $ 8.8 billion in the value of imports of Iranian oil.
And sanctions imposed on Tehran over its nuclear program, prevent Iran's access to the global banking system that hurt the oil.
According to "Reuters", Iran and Western powers are in talks to reach a framework agreement before the deadline at the end of March to restrict Iran's nuclear activities more sensitivity in exchange for a gradual lifting of sanctions imposed on Tehran.
The Indian refiners to settle 45 percent of Iran's oil payments in rupees deposited in the accounts of commercial banks with the Bank of Iranian Ao.sa.o holding the rest, and take advantage of Iran's funds deposited in rupees to buy items from India.
Seetharaman said the parliament in a written reply, "The Iranian commercial banks' balance of accounts at the Bank of Ao.sa.o reached 178.955 billion rupees ($ 2.86 billion) as of 16 March and was refiners city of Tehran, at $ 5.943 billion as of 28 February".
Usually refiners part of Iran dues release when the West to allow Tehran to obtain frozen funds abroad, and Muhammad was Naubakht Iranian government spokesman said earlier "The country has not yet received the $ 7.8 billion from sales of crude oil in the past few monthsbecause of Western sanctions keep Iran isolated from the global banking system. "
Naubakht did not give reasons for the delays payment, but stressed that the buyer of Iranian oil are mainly China, India, Japan, South Korea, Turkey, and the US and European sanctions prohibit international banks from transferring money to Iran. "
Naubakht pointed out that the total oil revenues in the past 12 months amounted to 52.8 billion dollars, and make the West imposed sanctions on Tehran over its nuclear program, it is difficult for the country to obtain US dollars you need for international transactions.
Iran says "The sanctions are illegal and vowed to circumvent it," conducts the Tehran talks with world powers on its nuclear program in an effort to agree to lift the sanctions that have cut oil exports in half and caused severe damage to its economy.
Iran rules out high oil prices above $ 60 a barrel until 2016 and expects to increase its exports of crude if raised by Western sanctions over its nuclear program.
Mohsen Qmbar director of international affairs at the National Iranian Oil Company and indicated that they did not expect the oil price exceeds $ 60 per barrel until 2016, it is not clear what will happen after that, he said, adding that "when the lifting of sanctions from natural and legal right to increase our sales of oil" in an effort to increasemarket share.The sanctions imposed by the United States, the European Union and entered into force in 2012, import, purchase and transport of Iranian petroleum products, conducts world powers talks with Iran, a major oil exporter, in a bid to persuade Tehran to curb its nuclear program in return for an easing of sanctions that hit the economy paralyzed.
Five countries are still China, India, Japan, South Korea and buy Iranian crude but does not import only between one million and 1.2 million barrels per day, including almost half of what was issued by Iran before the imposition of sanctions when the number of buyers more than ten countries, and fell more importsCustomers Iran, led by China and Japan by about 17 per cent in January (last January).
