China owes Iran €22b in oil and gas debt: official

Discussion in 'West Asia & Africa' started by amoy, Nov 1, 2013.

  1. amoy

    amoy Senior Member Senior Member

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    China owes Iran €22b in oil and gas debt: official - Tehran Times
    TEHRAN – China owes Iran €22 billion in oil and gas debt, vice president for planning and strategic supervision Mohammad Baqer Nobakht has said.

    In this line, Iranian parliament speaker Ali Larijani traveled to China on Tuesday to discuss mechanisms for paying the debt.

    China is Iran’s biggest trading partner, Larijani said before heading to China.

    Iran was one of the top five suppliers of crude oil to China this year and overall production increased, the Organization of Petroleum Exporting Countries said in its monthly market report.

    On August 2, China repeated its opposition to tougher U.S. sanctions on Iran after the House of Representatives approved a bill aimed at halting Iran's oil exports.

    The chairman of the Majlis Planning and Budget Committee said on Saturday that $100 billion of Iran’s money is frozen in foreign banks because of the sanctions imposed on the country.

    In addition to the $100 billion frozen in foreign banks, Iran has reserves of gold in the country and the assets in the National Development Fund (NDF) amount to over $30 billion, he said.

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    China reportedly now at 22% of Iranian crude export
    [​IMG]

    Barter trade shall have started?
     
    Last edited: Nov 1, 2013
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  3. drkrn

    drkrn Senior Member Senior Member

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    weapons trade?????
     
  4. kseeker

    kseeker Retired

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    Nuclear technology transfer may be ?
     
  5. drkrn

    drkrn Senior Member Senior Member

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    :scared1:
    a good possibility for that too.....
    but under current situations,iran needs money more than nuclear tech from china.they already have weapons grade uranium tech
    [​IMG]
     
  6. amoy

    amoy Senior Member Senior Member

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    China Agrees To Finance $20 Billion In Iranian Projects Using Blocked Assets From Oil Revenue: Report

    A top Iranian official says that China has agreed to fund $20 billion in development projects in his country in light of their assets being blocked due to international sanctions, according to a report in Iranian media website Tasnim News Agency cited by the Associated Press.

    As the AP notes, Hossein Sobhani-Nia, a member of the Iranian Parliament’s presiding board, said the deal was reached after Iran’s Parliament speaker Ali Larijani traveled to Beijing on Tuesday to talk with Chinese leaders about strengthening political, economic and cultural ties between the two countries. Sobhani-Nia was a member of the delegation.

    Iranian government spokesman Mohammad Baqer Nobakht announced shortly after the meeting that $22 billion of Iran’s assets -- mostly revenue from oil exports -- have been blocked in China due to sanctions by the UN Security Council over their nuclear program, Tasnim News Agency said.

    Economic ties between the two countries are stronger than ever. According to Tasnim News Agency, China imported 16.01 million tons -- 428,160 barrels a day -- of Iranian oil during the first nine months of 2013. Beijing pays for the oil by making deposits into an internal bank account which can only be used for buying commodities within China and exporting them to Iran.

    Iran is the third largest supplier of crude oil to China, Tasnim reports, accounting for 12 percent of its annual total consumption. The two countries have a bilateral trade volume of over $40 billion.
     
  7. sob

    sob Moderator Moderator

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    So India turns out to be a better trade partner. We have made most of the payments and we have ensured that there is a bank through which the trade can be routed.
     
  8. ice berg

    ice berg Senior Member Senior Member

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    MUhahhaahhahaha
    You have not have read news lately.

    Following Tehran’s decision of not accepting rupee payment beyond 45 per cent margin for purchase of crude oil, India has opened negotiations with the new government in Iran to explore and work out other mechanisms, including payment in other currencies that could include rouble or yen.

    Petroleum and Natural Gas Secretary Vivek Rae said that following the U.S. and EU sanctions against Iran, payment routes were blocked for India. India managed to get Tehran to accept 100 per cent rupee payment mechanism but the change in government changed this equation and Iran had raised a few invoices for oil it sold to India in rupees but stopped doing so soon after. Now, Iran is seeking payments in rouble, yen or yuan which is what is being worked out.

    It is from your own newspaper The Hindu somewhere in oct.

    They rather want Yuan than worthless rupees.
     
  9. sob

    sob Moderator Moderator

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    This is negotiations going on. Iran wants india to increase imports. This is being done to pressurise india. You have to understand the whole situation before you just pick some news item.

    Sent from my GT-N7100 using Tapatalk
     

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