Iranian deal offers no relief to India on oil imports

November 24, 2013

Nuclear_dealWashington, Nov 24: Countries like India would have to continue reducing oil imports from Iran despite a deal with the world powers over its controversial nuclear programme, according to a US fact sheet which also said Tehran would get a relief of USD 7 billion under the agreement.

Under the agreement reached in Geneva, Iran has committed to halt enrichment above five per cent, neutralise its stockpile of near-20 per cent uranium and halt progress on its enrichment capacity, to halt progress on the growth of its 3.5 per cent stockpile and committed to no further advances of its activities at Arak and to halt progress on its plutonium track.

In response, the US and five other major world powers have agreed to provide limited, temporary, targeted, and reversible relief while maintaining the vast bulk of the sanctions, including the oil, finance, and banking sanctions architecture. "If Iran fails to meet its commitments, we will revoke the relief," the US fact sheet said.

"Sanctions affecting crude oil sales will continue to impose pressure on Iran's government. Working with our international partners, we have cut Iran's oil sales from 2.5 million barrels per day (bpd) in early 2012 to 1 million bpd today, denying Iran the ability to sell almost 1.5 million bpd," the fact sheet said.

"That's a loss of more than USD 80 billion since the beginning of 2012 that Iran will never be able to recoup. Under this first step, the EU crude oil ban will remain in effect and Iran will be held to approximately 1 million bpd in sales, resulting in continuing lost sales worth an additional USD 4 billion per month, every month, going forward," it said.

India has slashed import of crude oil from Iran by over 26.5 per cent in the financial year ended March 31 as US and European sanctions made it difficult to ship oil from the Persian Gulf nation.

India imported about 13.3 million tonnes of crude oil from Iran in 2012-13 fiscal, down from 18.1 million tonnes shipped in the previous financial year.

Oil sanctions alone will result in approximately USD 30 billion in lost revenues to Iran – or roughly USD 5 billion per month – compared to what Iran earned in a six month period in 2011, before these sanctions took effect.

Iran used to be India's second-largest supplier, but is now fifth or sixth. The US said the approximately USD 7 billion in relief is a fraction of the costs that Iran will continue to incur during this first phase under the sanctions that will remain in place.

The vast majority of Iran's approximately USD 100 billion in foreign exchange holdings are inaccessible or restricted by sanctions.

In the next six months, Iran's crude oil sales cannot increase.

While Iran will be allowed access to USD 4.2 billion of its oil sales, nearly USD 15 billion of its revenues during this period will go into restricted overseas accounts.

"In summary, we expect the balance of Iran's money in restricted accounts overseas will actually increase, not decrease, under the terms of this deal," the US said.

Further sanctions affecting petroleum product exports to Iran, which result in billions of dollars of lost revenue, will remain in effect.

The vast majority of Iran's approximately USD 100 billion in foreign exchange holdings remain inaccessible or restricted by the sanctions.

The P5+1 countries have committed not impose new nuclear-related sanctions for six months, if Iran abides by its commitments under this deal, to the extent permissible within their political systems; and suspend certain sanctions on gold and precious metals, Iran's auto sector, and Iran's petrochemical exports, potentially providing Iran approximately USD 1.5 billion in revenue.

It also agreed to license safety-related repairs and inspections inside Iran for certain Iranian airlines and allow purchases of Iranian oil to remain at their currently significantly reduced levels – levels that are 60 per cent less than two years ago. USD 4.2 billion from these sales will be allowed to be transferred in installments if, and as, Iran fulfills its commitments.

"The concessions Iran has committed to make as part of this first step will also provide us with increased transparency and intrusive monitoring of its nuclear programme. In the past, the concern has been expressed that Iran will use negotiations to buy time to advance their program," the US said.

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News Network
February 18,2020

Beijing, Feb 18: A hospital director at the epicentre of China's virus epidemic died on Tuesday, state media said, the latest medical worker to fall victim to the new coronavirus spreading across the country.

The COVID-19 virus, which is believed to have originated in Wuhan late last year, has infected more than 72,000 people and killed nearly 1,900.

Liu Zhiming, the director of Wuchang Hospital in Wuhan, died Tuesday morning after "all-out rescue efforts failed," state broadcaster CCTV reported.

China said last week that six medical workers had died from the virus, while 1,716 have been infected.

Liu's death was initially reported by Chinese media and bloggers shortly after midnight on Tuesday -- but the stories were later deleted and replaced with reports that doctors were still trying to save him.

After initial reports of his death were denied, the hospital told AFP on Tuesday morning that doctors were giving him life-saving treatment.

Liu's death has echoes of that of Wuhan ophthalmologist Li Wenliang, who had been punished by authorities for sounding the alarm about the virus in late December.

Li's death prompted a national outpouring of grief as well as anger against the authorities, who were accused of mishandling the crisis.

People took to social media to mourn Liu on Tuesday, with many users on the Twitter-like Weibo platform drawing critical comparisons between Liu's death and Li's.

In both cases their deaths were initially reported in state media posts -- later deleted -- and their deaths denied, before being finally confirmed again.

"Has everyone forgotten what happened to Li Wenliang? They forcefully attempted resuscitation after he died," one Weibo commenter wrote.

Another commenter said, Liu "already died last night, (but) some people are addicted to torturing corpses".

A hashtag about Liu's death had 29 million views by Tuesday afternoon.

Doctors in Wuhan face shortages of masks and protective bodysuits, with some even wearing makeshift hazmat suits and continuing to work despite showing respiratory symptoms, health workers have told AFP.

Hubei province and its capital Wuhan have been the hardest hit by the virus, accounting for nearly 1,800 of the deaths from the virus so far.

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News Network
June 20,2020

Sao Paulo, June 20: Brazil’s government confirmed on Friday that the country has risen above 1 million confirmed coronavirus cases, second only to the United States.

The country’s health ministry said that the total now stood at 10,32,913, up more than 50,000 from Thursday. The ministry said the sharp increase was due to corrections of previous days’ underreported numbers.

Brazilian President Jair Bolsonaro still downplays the risks of the virus after nearly 50,000 deaths from COVID-19 in three months, saying the impact of social isolation measures on the economy could be worse than the disease itself.

Specialists believe the actual number of cases in Brazil could be up to seven times higher than the official statistic. Johns Hopkins University says Brazil is performing an average of 14 tests per 1,00,000 people each day, and health experts say that number is up to 20 times less than needed to track the virus.

Official data show a downward trend of the virus in Brazil’s north, including the hard-hit region of the Amazon, a plateau in cases and deaths in the countries’ biggest cities near the Atlantic coast, but a rising curve in the south.

In the Brazilian countryside, which is much less prepared to handle a crisis, the pandemic is clearly growing. Many smaller cities have weaker health care systems and basic sanitation that’s insufficient to prevent contagion.

“There is a lot of regional inequality in our public health system and a shortage of professionals in the interior,” said Miguel Lago, executive director of Brazil’s Institute for Health Policy Studies, which advises public health officials.

That creates many health care deserts, with people going long distances to get attention. When they leave the hospital, the virus can go with them.

The cattle-producing state of Mato Grosso was barely touched by the virus when it hit the nation’s biggest cities in March. Sitting far from the coast, between the Bolivian border and Brazil’s capital of Brasilia, its 33 lakh residents led a mostly normal life until May. But now its people live under lockdown and meat producers have dozens of infected workers.

In Tangará da Serra, a city of 1,03,000 people in Mato Grosso, the mayor decided Friday to forbid the sale of alcoholic drinks for two weeks as an incentive for people to stay home.

Fᢩo Junqueira said the measure was needed after a spike in COVID-19 cases that filled 80% of the city’s 54 intensive care beds. The city has had nearly 300 cases of the disease, plus three fatalities.

In Rondonópolis, only 300 miles away from Tangará da Serra and home to a thriving economy, health authorities closed the local meatpacking industry after 92 cases were confirmed there. The city of 1,44,000 inhabitants counted 21 deaths from the virus and more than 600 cases. The mayor has also decided to limit sales of alcoholic beverages.

Even regions once considered examples of successful efforts against the virus are now struggling.

Porto Alegre, home to about 14 lakh people, had success in slowing the virus’ spread over the last three months. But now its mayor is considering increasing social isolation measures after ICU occupancy in the city jumped to 80% this month.

We were already making projections for schools to come back, Mayor Nelson Marchezan Jr. told The Associated Press. Now the trend is to impose more restrictions. Outside Sao Paulo city, five regions of the state’s countryside will have to close shops starting Monday due to a rise in coronavirus cases. Governor João Doria announced the decision Friday.

Dr. Mike Ryan, the World Health Organization’s executive director, said at a news conference that Brazil needs to increase its efforts to stop the spread of infections.

“The epidemic is still quite severe in Brazil. I believe health workers are working extremely hard and under pressure to be able to deal with the number of cases that they see on a daily basis,” Dr. Ryan said.

“Certainly the rise is not as exponential as it was previously, so there are some signs that the situation is stabilising. But we’ve seen this before in other epidemics in other countries.”

Margareth Dalcolmo, a clinical researcher and professor of respiratory medicine at the state-funded Oswaldo Cruz Foundation in Rio de Janeiro, believes the reopening in major cities and the virus traveling by road into Brazil’s heartland will keep the pressure on the country’s health system.

“The risk in the interior now is very big,” she said. “Our health system just can’t solve the most serious cases of COVID in many places of the countryside.”

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News Network
April 17,2020

The coronavirus pandemic has sickened more than 2,425,000 people, according to official counts. So far at least 164,000 people have died, and the virus has been detected in at least 177 countries, as the following table shows.

United States 

780,330

37,782

Spain

200,210

20,852

Italy 

181,228

24,114

Germany

141,672

4,404

U.K.

124,743

16,509

France

114,657

20,265

Turkey

90,980

2,140

Mainland China

88,466

4,632

Iran

83,505

5,209

Russia

47,121

405

Brazil

40,743

2,587

Belgium

39,983

5,828

Canada

36,823

1,690

Netherlands

33,405

3,751

Switzerland

27,944

1,142

Portugal

20,863

735

India

18,539

592

Peru

16,325

445

Ireland

15,652

687

Austria

14,795

470

Sweden

14,777

1,580

Israel

13,713

177

Japan

10,915

168

South Korea

10,674

236

Chile

10,507

139

Saudi Arabia

10,484

103

Ecuador

10,128

507

Poland

9,593

380

Romania

8,936

478

Mexico

8,772

712

Pakistan

8,418

176

Singapore

8,014

11

Denmark

7,515

364

U.A.E.

7,265

43

Norway

7,156

181

Czech Republic

6,900

194

Indonesia

6,760

590

Serbia

6,630

125

Australia

6,625

71

Philippines

6,459

428

Belarus

6,264

51

Qatar

6,015

9

Ukraine

5,710

151

Malaysia

5,425

89

Dominican Rep.

4,964

235

Panama

4,467

126

Colombia

3,977

189

Finland

3,868

98

Luxembourg

3,558

75

Egypt

3,333

250

South Africa

3,300

58

Morocco

3,046

143

Bangladesh

2,948

101

Argentina

2,941

136

Thailand

2,792

47

Algeria

2,718

384

Moldova

2,548

70

Greece

2,245

116

Kuwait

1,995

9

Hungary

1,984

199

Bahrain

1,907

7

Croatia

1,881

47

Kazakhstan

1,852

19

Iceland

1,773

10

Uzbekistan

1,627

5

Iraq

1,574

82

Estonia

1,535

40

New Zealand

1,440

12

Azerbaijan

1,436

19

Oman

1,410

7

Armenia

1,339

22

Slovenia

1,335

77

Lithuania

1,326

37

Bosnia and Herzegovina

1,309

49

North Macedonia

1,225

54

Slovakia

1,173

13

Cameroon

1,163

42

Cuba

1,087

36

Ghana

1,042

9

Afghanistan

1,026

36

Hong Kong

1,025

4

Bulgaria

929

43

Tunisia

884

38

Ivory Coast

847

9

Djibouti

846

2

Cyprus

772

12

Latvia

739

5

Andorra

717

37

Lebanon

677

21

Nigeria

665

22

Costa Rica

662

6

Niger

648

20

Guinea

622

5

Albania

584

26

Burkina Faso

581

38

Kyrgyzstan

568

7

Bolivia

564

33

Uruguay

535

10

Kosovo

510

12

Channel Islands

488

24

Honduras

477

46

San Marino

462

39

West Bank & Gaza

449

3

Malta

431

3

Jordan

425

7

Taiwan

422

6

Georgia

402

4

Senegal

377

5

Congo

332

25

Mauritius

328

9

Montenegro

312

5

Sri Lanka

304

7

Isle of Man

300

9

Guatemala

289

7

Kenya

281

14

Vietnam

268

Venezuela

256

9

Tanzania

254

10

Mali

246

14

Somalia

237

8

Jamaica

223

5

El Salvador

218

7

Paraguay

208

8

Faroe Islands

185

Republic of the Congo

160

6

Rwanda

147

Brunei

138

1

Gibraltar

132

Cambodia

122

Madagascar

121

Gabon

120

1

Myanmar

119

5

Trinidad and Tobago

114

8

Ethiopia

111

3

Sudan

107

12

Liberia

99

8

Aruba

97

2

Monaco

94

3

Bermuda

86

5

Togo

84

6

Liechtenstein

81

1

Equatorial Guinea

79

Barbados

75

5

Maldives

69

Cape Verde

67

1

Sint Maarten

67

10

Cayman Islands

66

1

Guyana

65

7

Zambia

65

3

Bahamas

60

9

Haiti

57

3

Uganda

56

Benin

54

1

Libya

51

1

Guinea-Bissau

50

Macau

45

Sierra Leone

43

Eritrea

39

Mozambique

39

Syria

39

3

Chad

33

Mongolia

33

Nepal

31

Zimbabwe

25

3

Angola

24

2

Eswatini

24

1

Antigua and Barbuda

23

3

Timor-Leste

22

Botswana

20

1

Laos

19

Belize

18

2

Fiji

18

Malawi

17

2

Dominica

16

Namibia

16

Saint Kitts and Nevis

15

Saint Lucia

15

Curaçao

14

1

Grenada

14

Central African Republic

12

Saint Vincent and the Grenadines

12

Falkland Islands

11

Greenland

11

Montserrat

11

Seychelles

11

Turks and Caicos Islands

11

1

Gambia

10

1

Nicaragua

10

2

Suriname

10

1

Vatican City

9

Mauritania

7

1

Papua New Guinea

7

Western Sahara

6

Bhutan

5

British Virgin Islands

5

1

Burundi

5

1

South Sudan

4

São Tomé and Príncipe

4

Anguilla

3

Yemen

1

 

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