US eyes more cuts in Indian imports of Iranian oil

May 7, 2012

clinton

Kolkata, May 7: India: Hoping to wean India from Iranian oil imports, US Secretary of State Hillary Rodham Clinton is urging Indian leaders to explore alternative suppliers as she opens a three-day visit to the energy-starved South Asian giant that will also focus on regional security and easing trade restrictions.

Clinton arrived in the eastern city of Kolkata — the first secretary of state to visit the former colonial capital of 14 million — on Sunday after visits to China and Bangladesh as officials traveling with her said the Iranian oil imports would top an agenda that includes India’s relations with nuclear rival Pakistan and the future of Afghanistan.

India has huge energy needs to fuel its rapid growth and has made some progress in easing its dependence on Iranian oil. But a senior US official said the United States wants to see more.

The official, who spoke on condition of anonymity to preview Clinton’s private discussions in Kolkata and New Delhi, said the “trend lines are good” but “we really need to receive assurances that they are going to continue to make good progress.”

Like other major consumers of Iranian oil, India could face US sanctions by the end of June if the Obama administration determines it has not made significant cuts in imports under a law aimed at squeezing Iran’s petroleum industry to press the country to comply with international demands over its nuclear program.

A dozen European nations and Japan have already been spared from those sanctions after the administration determined they had substantially reduced their Iranian oil imports. India, along with China, South Korea, Turkey and South Africa, has still not received such waivers.

India imports around 70 percent of its oil, and about 9 percent of the imports are from Iran. The US official said India had recently stepped up imports of oil from Saudi Arabia to make up for the reduction in Iranian oil and that the US was eager to see the Indians explore other alternatives. Iran is India’s second-largest crude oil supplier after Saudi Arabia and according to media reports imports 550,000 barrels a day.

India has been pushing its oil companies to cut back their crude imports from Iran and an Indian official, speaking on condition of anonymity per custom, said the government is willing to discuss the matter. The official expressed hope India will be exempted from the sanctions.

“We believe we have a strong case, which we will put forth,” the official said.

India and Iran reached a deal earlier this year that would allow India to pay for about 45 percent its Iranian oil purchases in rupees. Iran would then use the Indian currency to buy goods from India.

International economic sanctions on Iran had made oil trade difficult, because Indian oil importers had to scramble to find banks willing to handle transactions with Tehran. The barter exchange would help India pay for the Iranian crude without resorting to dollar payments, thus bypassing international banks.

An Indian delegation visited Iran in March to promote Indian goods including machinery, iron, steel, minerals and automobiles and Clinton’s visit coincides with that of a large Iranian group that will be in New Delhi to explore Indian goods and services Tehran can buy to offset the enormous rupee payments running into billions of dollars that Iran has accumulated.

The US official downplayed the presence of the Iranian delegation, saying. “I don’t think we are too concerned about it.” The official added that the US special envoy for global energy issues, Carlos Pasqual, will visit India later in May to follow up on Clinton’s talks, the official said.

In her talks with Indian officials, Clinton will also be pressing for the country to continue economic reforms and trade liberalization, including dropping restrictions on foreign investment in the finance sector and allowing large western retailers to open up, the US official said.

Before heading to New Delhi on Monday, Clinton will meet in Kolkata with Chief Minister Mamata Banerjee, the top elected leader of West Bengal state. Banerjee, a key partner of India’s ruling coalition, has in recent months opposed many of the Prime Minister Manmohan Singh-led Congress party’s plans to carry out economic reforms.

Clinton is expected to push for expanding US investment opportunities in West Bengal and seek Banerjee’s views on the entry of WalMart-type multi-brand retailers into India. Banerjee has been a vocal opponent of opening up India’s retail sector saying it would harm poor shop owners.

In talks with Singh in New Delhi, Clinton will look at regional security issues and the India-US Strategic Dialogue meeting scheduled to be held in Washington next month. India’s major concern, however, is the security situation in Afghanistan following the drawdown of NATO troops from the war-torn country in 2014. India has been taking a lead in the reconstruction efforts in Afghanistan and plans to host a regional investors’ conference on Afghanistan in June.

The US will also be looking at trade and investment opportunities in India. With its economy expected to grow at around 7 percent over the next few years, India is an important market for US exports. Trade between the two countries is expected to cross $100 billion this year.

However, some of the sheen has worn off the high expectations from US-India relations in the years following the signing of a landmark civil nuclear deal in 2008. Washington was riled when India chose a French company for an $11 billion order for 126 fighter jets for the Indian air force. India has sourced numerous other big ticket defense purchases from US companies.

There is also a growing perception in Washington that the Indian government has not delivered on economic reforms and has been dragging its feet on implementing key nuclear legislation that would enable US companies to invest in India.

Over the past year, Singh’s government has been bogged down by a series of scandals and resistance from its coalition partners that have brought economic reforms to a halt.

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News Network
June 19,2020

Jun 19: Ten Indian Army soldiers including four officers were released by the China’s People’s Liberation Army (PLA) on Friday capping three days of hard negotiations that followed the bloody battle at the eastern Ladakh’s Galwan valley on Monday.

The 10 jawans returned around 5.30 PM on Friday to Patrol Point 14 (PP-14) after Indian team leader Major Gen. Abhijit Bapat, the commanding officer of the Third Div made it clear to the Chinese that there couldn’t be any progress in the disengagement talks unless the soldiers were returned safely.

Asked to comment on the release of Indian soldiers, the Indian Army maintained silence. The force released a brief statement on Thursday stating that all its men were accounted for.

However, the extent of the brutal clash can be gauged from the fact that 76 Indian Army soldiers are still in the hospital out of which 58 soldiers have “minor injuries” and “should be back on duty within a week”, according to Army sources.

Return of the Indian soldiers has been the main point of negotiations for the last two days. The situation is now calmer at areas near PP-14 in the Galwan valley after the return of Indian soldiers even though large numbers of troops from both sides are still present in the area.

Meanwhile analysis of satellite images has revealed a large presence of Chinese troops in the northern banks of Pangong Tso, a disputed territory for years.

“In the past month, Chinese forces have become an overwhelming majority in the disputed areas (on the north bank of the 135 km long lake). Significant positions have been constructed between Fingers 4 and 5, including around 500 structures, fortified trenches and a new boat shed over 20 km further forward than previously. More structures appear to be under construction,” says a report published in the Strategist, the journal of the Australian Strategic Policy Institute.

“The scale and provocative nature of these new Chinese outposts is hard to overstate: 53 different forward positions have been built, including 19 that sit exactly on the ridge line separating Indian and Chinese patrols,” says the report, accompanied by satellite images showing overwhelming PLA presence.

The June 6 Corps Commander level meeting between the Indian and PLA armies did not result in a solution to the contentious muscle flexing by the Chinese on the shores of the Pangong lake. The meeting ended with the conclusion that more Lt Gen level talks between the two armies were needed to resolve such issues.

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News Network
June 5,2020

New Delhi, Jun 5: Shares of Reliance Industries on Friday gained over 2 per cent to hit their one-year high level after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.

On BSE, the heavyweight stock jumped 2.38 per cent to Rs 1,617.70 -- its 52-week high.

It surged 2.41 per cent to its one-year high of Rs 1,618 on NSE.

Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.

"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.

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News Network
June 12,2020

Jun 12: There have been complaints of non-availability of beds or denial of treatment to coronavirus patients in the national capital despite nearly 70 per cent of beds in five designated hospitals run by the Delhi government lying vacant, with experts attributing it to people''s aversion towards state-run facilities.

As per the latest information shared on the Delhi Corona app on Thursday afternoon, more than 3,000 beds are lying vacant in these five dedicated COVID-19 hospitals that have a total capacity of 4,344 beds.

However, almost all beds at several big private hospitals are shown to be occupied.

Families of many COVID-19 patients, confirmed or suspected, have alleged in the past few weeks that they have been denied admission at many facilities or have not been able to get a bed for their kin.

Medical and public health experts feel it may be because of the image associated with government hospitals, related to infrastructure and hygiene conditions, and perhaps shortage of staff.

According to the latest data available on Delhi Corona app on Thursday afternoon, a total of 9,444 beds are available in private facilities and hospitals run by the central and Delhi governments. Out of these, 4,371 are vacant.

The app shows that beds are available at Delhi government-run hospitals dedicated for COVID-19 treatment such as LNJP Hospital (1,219), GTB Hospital (1,314), Rajiv Gandhi Super Speciality Hospital or RGSSH (242).

However, almost all beds at several big private hospitals are shown to be occupied.

At LNJP Hospital, there are a total of 2,000 beds, out of these 781 are occupied. GTB Hospital has total 1,500 beds, only 186 of which are occupied. Even at RGSSH, 258 of the 500 beds are occupied.

Beds are available at other dedicated COVID-19 facilities in the national capital too, according to the app. Deep Chand Bandhu Hospital has 94 unoccupied beds out of a total 176 and Satyawadi Raja Harishchandra Hospital has 145 vacant beds out of a total 168.

This makes a total of 4,344 COVID-19 beds at these five dedicated Delhi government hospitals, out of which 3,014 or 69.38 per cent are vacant.

A senior doctor at the RGSSH said, "We are only admitting very serious COVID-19 patients in the hospital. Those with mild symptoms, or asymptomatic ones, are either being home quarantined or being sent to COVID Care Centres. Our beds are on stand-by also to accommodate serious patients in case there is a sudden rush."

Delhi Heath Minster Satyendar Jain had recently said that some private hospitals could have been denying admission, but the Delhi government-run hospitals have not denied beds to any needy COVID-19 patient.

He had also said that main private hospitals are almost full to their capacity in terms of number of COVID-19 beds.

According to the app, at prominent private hospitals like Indraprastha Apollo, Max Hospital in Shalimar Bagh, Fortis Hospital in Shalimar Bagh, BL Kapur Hospital are fully occupied.

Max Hospital in Saket has a total of 200 beds for COVID-19 patients, and only one is vacant.

On June 9, the Delhi government had directed 22 private hospitals in the national capital to dedicate a total of 2,015 extra beds for treatment of coronavirus patients, revising its earlier allocation limit of 20 per cent.

Lawyer and public heath activist Ashok Agarwal said infrastructure and hygiene are two main factors, and people still want to "avoid government facilities".

"I know of cases, where people were willing to be on waiting list of private hospitals but did not go to a government hospital, even though beds were available," he said.

Even those who went to a government hospital for COVID-19 treatment, complained of "dirty toilets, and these being used by multiple patients", Agarwal said.

"Also, as the cases erupted successively over the months, many people got scared and were in two minds to go to a government hospital, as admitted patients were making allegations in videos and on social media about lack of proper services. Besides, there is shortage of medical staff at various facilities, and each patient needs to be attended to," he argued.

Delhi government hospitals and private facilities were directed to prominently display information about the availability of beds on a flex board at their main gates.

Delhi Lt Governor Anil Baijal on Wednesday ordered Delhi hospitals to display the availability of COVID and non-COVID beds, charges for rooms or beds along with contact details on a LED board outside the hospital.

Max Hospital sources said they were already displaying the status of beds on LED screens near their reception area even before the government order.

A spokesperson from Fortis Hospital said, "We are in the process of arranging to put up the displays as per the prescribed format."

Delhi recorded 1,501 fresh coronavirus cases on Wednesday, taking the COVID-19 tally in the city to over 32,000, and the death toll due to the disease mounted to 984, authorities said.

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