India to stop importing oil from Iran; make up lost volumes from alternate sources

Agencies
April 23, 2019

New Delhi, Apr 23: India will stop importing crude oil from Iran following the US move to end sanction waivers, and will use alternate supply sources such as Saudi Arabia to make up for the lost volumes, top officials and industry sources said Tuesday.

The Trump administration on Monday decided not to renew waiver that let countries like India buy Iranian oil without facing US sanctions.

"Until the waivers are not restored back, I don't think India can buy oil from Iran. We will stop importing oil from Iran," a top official said.

New Delhi is likely to press with the US government for continuation of beyond its expiry on May 2 in talks scheduled later this month, he said. "But purchases cannot be made in anticipation. We will not be importing any oil from Iran."

India was the second biggest buyer of Iranian crude oil after China. It bought some 24 million tonnes of crude oil from Iran in the fiscal ended March 31 (2018-19). Iran supplied more than a tenth of its oil needs.

The shortfall will be made from alternate supply sources available in Saudi Arabia, Kuwait, UAE and Mexico.

Oil Minister Dharmendra Pradhan in a tweet said "a robust plan for an adequate supply of crude oil to Indian refineries" is in place.

"There will be additional supplies from other major oil-producing countries; Indian refineries are fully prepared to meet the national demand for petrol, diesel & other petroleum products," he said.

The oil ministry too in a statement said a plan was in place to ensure supplies of crude oil from May when the waiver ends.

Indian Oil Corp (IOC) Chairman Sanjiv Singh said refiners import crude oil from a wide range of sources and had been lining up alternate supplies for the past months.

The US was to take a decision on waiver extension this month and Indian refineries had prepared plans for all eventualities.

"We have alternate sources lined up to make up for any shortfall," he said.

US President Donald Trump last year withdrew from the 2015 nuclear deal between Iran and world powers, and revived a range of sanctions against the Persian Gulf nation. It, however, granted a six-month waiver from sanctions to eight countries - China, India, Japan, South Korea, Taiwan, Turkey, Italy, and Greece - but with a condition that they would reduce their purchases of Iranian oil.

The waiver began in November 2018 and was to expire on May 2.

India had agreed to restrict its monthly purchase to 1.25 million tonnes to get the waiver. But since it had made robust purchases in the period prior to November 2018, India's overall crude oil imports from Iran totalled nearly 24 million tonnes in 2018-19 as compared to 22.6 million tonnes bought in the 2017-18.

"We have optional volumes (over and above the term contracts) from a number of suppliers which we can exercise to make up for any shortfall from Iran," Singh said. "We can also go to the spot (or current) market to source crude."

"As far as Indian Oil is concerned, supplies will not be a problem. We have already lined up alternate sources," he said, adding the impact of the US decision may reflect on global oil prices which may temporarily go up.

IOC has the option to take 0.7 million tonnes of crude oil from Mexico on top of its committed purchase of 0.7 million tonnes during the year. From Saudi Arabia, it has an optional volume of 2 million tonnes on top of a term contract of 5.6 million tonnes.

Similarly, it has optional volumes of 1.5 million tonnes from Kuwait and another 1 million tonnes from the UAE.

"We have all the supplies tied up and I think globally crude will be readily available but it is difficult to say what the impact will be on price," he added.

The price of Brent crude, the global oil benchmark, gained 0.6 per cent to USD 74.46 a barrel, the highest in almost six months. It had risen by 3 per cent on Monday.

When Trump first pulled out of the nuclear deal, oil shot up to over USD 85 a barrel and it fell to near USD 50 after the US administration unexpectedly granted the waivers.

US sanctions on Iran's oil buyers snap back next month that will block the American financial system for importers.

India, the world's third-biggest oil consumer, meets more than 80 per cent of its oil needs through imports. Iran in 2017-18 was its third-largest supplier after Iraq and Saudi Arabia and meets about 10 per cent of total needs.

Trump in May withdrew from the 2015 nuclear accord with Iran, re-imposing economic sanctions against the Persian Gulf nation. Some sanctions took effect from August 6, while those affecting the oil and banking sectors were to start from November 5, 2018. A six-month waiver was granted that was to expire on May 2.

Iran was India's second biggest supplier of crude oil after Saudi Arabia till 2010-11 but Western sanctions over its suspected nuclear programme relegated it to the seventh spot in the subsequent years. In 2013-14 and 2014-15, India bought 11 million tonnes and 10.95 million tonnes, respectively from it.

Sourcing from Iran increased to 12.7 million tonnes in 2015-16, giving it the sixth spot. In the following year, the Iranian supplies jumped to 27.2 million tonnes to catapult it to the third spot.

Iranian oil is a lucrative buy for refiners as the Persian Gulf nation provides 60 days of credit for purchases, terms not available from suppliers of substitute crudes -- Saudi Arabia, Kuwait, Iraq, Nigeria, and the US.

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Agencies
July 2,2020

Moscow, Jul 2: Russian voters approved changes to the constitution that will allow President Vladimir Putin to hold power until 2036, but the weeklong plebiscite that concluded Wednesday was tarnished by widespread reports of pressure on voters and other irregularities.

With most of the nation's polls closed and 20% of precincts counted, 72% voted for the constitutional amendments, according to election officials.

For the first time in Russia, polls were kept open for a week to bolster turnout without increasing crowds casting ballots amid the coronavirus pandemic a provision that Kremlin critics denounced as an extra tool to manipulate the outcome.

A massive propaganda campaign and the opposition's failure to mount a coordinated challenge helped Putin get the result he wanted, but the plebiscite could end up eroding his position because of the unconventional methods used to boost participation and the dubious legal basis for the balloting.

By the time polls closed in Moscow and most other parts of Western Russia, the overall turnout was at 65%, according to election officials. In some regions, almost 90% of eligible voters cast ballots.

On Russia's easternmost Chukchi Peninsula, nine hours ahead of Moscow, officials quickly announced full preliminary results showing 80% of voters supported the amendments, and in other parts of the Far East, they said over 70% of voters backed the changes.

Kremlin critics and independent election observers questioned the turnout figures.

We look at neighboring regions, and anomalies are obvious there are regions where the turnout is artificially (boosted), there are regions where it is more or less real, Grigory Melkonyants, co-chair of the independent election monitoring group Golos, told The Associated Press.

Putin voted at a Moscow polling station, dutifully showing his passport to the election worker. His face was uncovered, unlike most of the other voters who were offered free masks at the entrance.

The vote completes a convoluted saga that began in January, when Putin first proposed the constitutional changes.

He offered to broaden the powers of parliament and redistribute authority among the branches of government, stoking speculation he might seek to become parliamentary speaker or chairman of the State Council when his presidential term ends in 2024.

His intentions became clear only hours before a vote in parliament, when legislator Valentina Tereshkova, a Soviet-era cosmonaut who was the first woman in space in 1963, proposed letting him run two more times.

The amendments, which also emphasize the primacy of Russian law over international norms, outlaw same-sex marriages and mention a belief in God as a core value, were quickly passed by the Kremlin-controlled legislature.

Putin, who has been in power for more than two decades longer than any other Kremlin leader since Soviet dictator Josef Stalin said he would decide later whether to run again in 2024.

He argued that resetting the term count was necessary to keep his lieutenants focused on their work instead of darting their eyes in search for possible successors.

Analyst Gleb Pavlovsky, a former Kremlin political consultant, said Putin's push to hold the vote despite the fact that Russia has thousands of new coronavirus infections each day reflected his potential vulnerabilities.

Putin lacks confidence in his inner circle and he's worried about the future, Pavlovsky said.

He wants an irrefutable proof of public support.

Even though the parliament's approval was enough to make it law, the 67-year-old Russian president put his constitutional plan to voters to showcase his broad support and add a democratic veneer to the changes.

But then the coronavirus pandemic engulfed Russia, forcing him to postpone the April 22 plebiscite.

The delay made Putin's campaign blitz lose momentum and left his constitutional reform plan hanging as the damage from the virus mounted and public discontent grew.

Plummeting incomes and rising unemployment during the outbreak have dented his approval ratings, which sank to 59%, the lowest level since he came to power, according to the Levada Center, Russia's top independent pollster.

Moscow-based political analyst Ekaterina Schulmann said the Kremlin had faced a difficult dilemma: Holding the vote sooner would have brought accusations of jeopardizing public health for political ends, while delaying it raised the risks of defeat.

Holding it in the autumn would have been too risky, she said.

In Moscow, several activists briefly lay on Red Square, forming the number 2036 with their bodies in protest before police stopped them.

Some others in Moscow and St. Petersburg staged one-person pickets and police didn't intervene.

Several hundred opposition supporters rallied in central Moscow to protest the changes, defying a ban on public gatherings imposed for the coronavirus outbreak. Police didn't intervene and even handed masks to the participants.

Authorities mounted a sweeping effort to persuade teachers, doctors, workers at public sector enterprises and others who are paid by the state to cast ballots. Reports surfaced from across the vast country of managers coercing people to vote.

The Kremlin has used other tactics to boost turnout and support for the amendments.

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News Network
June 30,2020

New Delhi, Jun 30: The Home Ministry on Monday issued guidelines for 'Unlock 2.0' phase across country between July 1 and July 31. The report stated that COVID-19 lockdown shall continue to remain in force in containment zones till July 31. In containment zones, only essential activities to be allowed. The government's guidelines come on a day when Maharashtra and Tamil Nadu extended lockdowns in their respective states to July 31.

Unlock 2.0 Guidelines:

•   Schools, colleges, educational institutes wil remain closed till July 31. Online/distance learning shall continue to be permitted and shall be encouraged

•   Lockdown shall continue to remain in force in containment zones till July 31st.  In containment zones, only essential activities to be allowed.

•   Night Curfew shall continue to remain in force, between 10:00 pm and 5:00 am, except for essential activities and other relaxations.

•   Social/ political/ sports/ entertainment/ academic/ cultural/ religious functions and other large congregations remain prohibited.

•   International air travel, except as allowed by MHA, will also remain barred.

•   Shops depending upon their area, can have more than 5 persons at a time. However, they have to maintain adequate physical distance.

•   Training institutions of the central and state governments will be allowed to function with effect from July 15 and SOP in this regard will be issued by the Department of Personnel and Training.

Meanwhile, Union Home Secretary Ajay Bhalla wrote to Chief Secretaries of all states and UTs, urging them to ensure compliance of Unlock 2 guidelines and direct all concerned authorities for their strict implementation.

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News Network
March 12,2020

New Delhi, Mar 12: The Supreme Court told the Uttar Pradesh government on Thursday that as of now, there was no law that could back their action of putting up roadside posters of those accused of vandalism during anti-CAA protests in Lucknow.

An apex court bench refused to stay the March 9 Allahabad High Court order directing the Yogi Adityanath administration to remove the posters.

The top court, which grilled the Uttar Pradesh government for putting up such posters in public, described the plea as a matter that needed "further elaboration and consideration".

A vacation bench of justices U U Lalit and Aniruddha Bose said a "bench of sufficient strength" would consider next week the Uttar Pradesh government's appeal against the Allahabad High Court order directing the state administration to remove the posters of those accused of vandalism during anti-CAA protests.

It directed the apex court registry to put up the case file before Chief Justice of India (CJI) S A Bobde so that a "bench of sufficient strength can be constituted at the earliest to hear and consider" the case next week.

During the hearing, the bench told Solicitor General Tushar Mehta, appearing for the Uttar Pradesh government, that it was a matter of "great importance".

It asked Mehta whether the state government had the power to put up such posters.

The top court, however, said there was no doubt that action should be taken against rioters and they should be punished.

Mehta told the court that the posters were put up as a "deterrent" and the hoardings only said that these persons were liable to pay for their alleged acts during the violence.

Senior advocate A M Singhvi, appearing for former IPS officer S R Darapuri whose poster has also been affixed in Lucknow, told the bench that the state was duty-bound to show the authority of law backing its action.

He said the action of the Uttar Pradesh government amounted to a "mega blanket" approach of naming and shaming these persons without final adjudication and it was an open invitation to common men to lynch them as the posters also had their addresses and photographs.

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