How Dollar lost relevance in India Iran relationship?

In this video, we will discuss how Dollar is dropped from India Iran Trade.


Reference -
https://www.truthdig.com/articles/india-stands-with-iran-against-trumps-sanctions/
https://financialtribune.com/articles/national/87546/eu-china-vow-to-uphold-nuclear-deal
http://www.tehrantimes.com/news/424146/Iran-India-mulling-over-rial-rupee-trade-to-withstand-U-S-sanctions
https://financialtribune.com/articles/energy/87503/iran-india-drop-dollar-in-oil-trade


Transcript - 

Hello Friends, welcome to Real Quick Info channel.



Lets discuss about today's topic.

After the  Indian visit of Iranian foreign minister, the real details are coming out.



Now, India has effectively dropped Dollar from payment for Iranian oil.



Given public sector Uco bank doesn't have any exposure to USA, its assets cannot be attached, and it cannot be penalized by American administration in any other way.



Therefore UCO bank will make the payment for Iranian oil.



Interestingly, India used to trade with Iran in Euros, and Brussels based SWIFT bank exchange is used for it.



Now along with China, Europe has also solidly confirmed, that they will not abandon Iran Nuclear deal.



This effectively means, India can still use European SWIFT bank exchange to import Iranian crude oil.



Therefore India need not worry about importing fuel from Iran.



However, There is still huge question mark on how the payment for Infrastructure development will be made.



It appears, we are returning to pre Iran nuclear deal status, where we will continue to import fuel from Iran, and abandon Infrastructure development project there.



As far as we think, real test of bilateral creativity will be to find innovative ways, so that India can complete the Infrastructure development projects, which have already been started.



However, this will once again send us to the drawing board, since only those private infrastructure development firm can afford to work now, which has no assets, or interests in America.



Basically, private Firms having American exposure have to be replaced with state run firms.



Therefore delay in the projects completion is inevitable.



The point is, if we try , we can somehow keep the wheels moving on the ground.



Needless to say, it will not be wise to announce any new project in Iran.





The bigger fear is, due to ineffective unilateral withdrawal from Iran nuclear deal, Trump administration may indulge into rash decision making, which may harm Indian interests somewhere else.



Therefore, very Cleverly we got to manage the contradictory relationships.



If you have noticed, on the one hand India publicly  expressed its commitment to have trade with Iran, on the other hand, News  has broken out about the possibility of India signing final deal for Israeli Spike Missiles any time soon.



Its very hard to ignore the relationship in the timing of these two decisions.



Its pure balancing act at play, While maintaining the relationship with Iran, we must keep in mind, Israel and America are allies, we cannot afford to loose.



As per your views, will India standing firm with Iran will affect Indian friendship with Israel??



Please let us know your views in comment section below.

Please find the reference links of this video in the description box below. Thank you friends.

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