Iran sanctions may hit our energy security: India

Iran sanctions may hit our energy security: India

thehindu.com

Hitting out at the “extra-territorial nature of certain unilateral sanctions” resulting in restrictions on investment by third countries in Iran’s energy sector, India on Monday said it can have a direct and adverse impact on India’s energy security.

Reiterating the country’s position that it supports the right of all states to undertake peaceful uses of nuclear energy consistent with their international obligations, Foreign Secretary Nirupama Rao said India has always supported dialogue and avoidance of confrontation.

(visit the link for the full news article)


Related News Links:
www.asianews.it

And India, which I believe next to China is the fastest growing market for and has the second largest reliance on fuel from the middle east, what their stance is on Iran. They are concerned, and rightly so. The energy security portion is in fact a very a very large concern for China as well.

China is a permanent, veto wielding member of the UN Security Council and voted for the sanctions. India is not currently one of the 10 elected non-permanent members.

And interesting related story about the SCO is in the additional news links. Apparently the U.S. is wielding influence there now too.



thehindu.com
(visit the link for the full news article)

Indioa and the US are pretty tight. The US is probably saying dont worry-once Israel attacks Iran (Israel and India are very tight as well) then you can have all the oil/gas you want. The same thing is being told to Russia and China.

All of the countries (US included) like the Persian people but they HATE deasling with the Mullah's. Thats right even Russia and China dont like dealing with the Mullahs.

Remember just a few weeks ago when the Russians said to strike Syria-just dont any any of the oil fields? All of these countries are in it together.

Yeah, I remember that the U.S. and India are "tight." Who could forget the historic deal GWB made with India...Indian mangoes for help with their "civilian" nuclear programs. And yeah, we're tight because so many of our jobs are there and our companies are building and investing billions in schools there.

Anyway, allies are allies as long as there's something in it for them, I suppose. Especially when it comes to money. India's interests are in keeping the choke points open. Probably no matter who they have to "side" with to do that. And like China, they won't be happy if their flow is disrupted, so I guess we'll see.

reply to post by ~Lucidity


Interesting. You might want to read this report that I found several days ago:

Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda, Sudan, Saudi Arabia and Venezuela this year, leading a record number of delegations to gain oil for the world’s third-fastest-growing major economy.

The flurry of visits is part of a new drive to find oil for India’s 1.2 billion people after losing out to China in at least $12.5 billion of contracts in the past year. India proposed a sovereign wealth fund to bid for reserves, told state-controlled Oil & Natural Gas Corp. and Oil India Ltd. to make a major acquisition each this year, and raised the amount they can spend without government approval to 50 billion rupees ($1.1 billion).

“There is a new push,” said N.M. Borah, chairman of state-owned exploration company Oil India. “Going abroad is part of the government’s policy -- diplomatic support is very, very crucial as we search for assets overseas.”

India’s energy use may more than double by 2030 to the equivalent of 833 million metric tons of oil from 2007, while China’s demand may rise 87 percent to 2.4 billion tons, the Paris-based International Energy Agency said.

India faces an uneven contest to close the gap with China, which is dipping into $2.4 trillion of foreign currency reserves to buy stakes in oil and natural gas fields from Iraq to Uganda, compared with India’s $250 billion in foreign exchange reserves. State-run Chinese companies spent a record $32 billion last year acquiring energy and resources assets overseas versus India’s single $2.1 billion investment by ONGC. China’s June 19 decision to allow the yuan to appreciate will further strengthen the hand of Chinese companies buying overseas.

India’s oil import bill climbed six-fold in the past decade to $85.47 billion for the year ended March, equivalent to about 7 percent of gross domestic product.

‘Political Game’

“India’s search for energy has to become a more intense political game, rather than one based entirely on economics,” said Abheek Barua, an economist at the Mumbai-based HDFC Bank Ltd. “China has virtually already taken over Africa.”

China has promised billions of dollars in aid, investment and loans to Africa, producer of one-eighth of the world’s crude oil, in exchange for energy supplies.

“We buy assets based on commercial decisions even though there is a mandate for securing energy for the country,” R.S. Sharma, chairman and managing director of ONGC said in April. “The Chinese are different with their big cash. We can’t invest just for the sake of it.”

source

Yes. The demand for oil in India and China has been growing exponentially and is now huge. Projections show it to far surpass anything we've ever seen. This is why those areas (the Middle East, Africa) are vital to them...and to those who want to control the water, gas, and oil pipelines to them. This is an enormous factor in why the U.S. wants to control the land the pipelines flow over. Russia too.

Alternative energy is vital with this boom in demand coming to the newly industrialized nations. Rumor is "the great minds there are working on it" but in the meantime they are probably even more dependent than say Europe or the U.S.

[edit on 5-7-2010 by ~Lucidity]

Israel Makes Case to China for Iran Sanctions

This is another interesting article about the maneuverings around the vote on the Iran sanctions.

And from last week...

US fears China may snub Iran sanctions

Again, India did not vote on the sanctions.

[edit on 5-7-2010 by ~Lucidity]

Interesting, did anybody catch this one yet??

Iran threatens oil routes as Obama signs tough new energy sanctions

A US-Iran showdown loomed closer early Friday, July 2, when president Barack Obama signed into law a series of energy sanctions, the toughest yet, for arresting Iran's nuclear weapons program. Iran's defense minister Gen. Ahmad Vahidi warned that searches of its ships or planes would have "dire consequences" for world security and the Middle East in particular.

It seems that they may already have some sort of plan of action.

Yeah, Slay...Iran isn't a happy camper today either. Wonder what kind of disastrous.

Here's Obama on the sanctions...at least he cares about the Iranian people *rolls eyes

Seems now China is having second thoughts too. Here. Unlike India, they voted for the sanctions.

Wait to hear similar words from Russia (unless they already voiced second thoughts and I missed it?) They'll be chiming in next.

Very interesting to Google NAM and Iran sanctions too and read what's being said there.

Here's one I missed about Russia




[edit on 6-7-2010 by ~Lucidity]

I do believe all of these regional players are going to be looking out for their own interests just as the superpowers look after theirs. This ties into a thread I started awhile back about PK going ahead with the pipeline. here

I totally agree that allies are allies so long as there is something in it for them. It's going to be interesting to see how long these alliances remain intact if the bombs start falling on Iran and the oil stops flowing. The US/Israel better hope any attack on Iran is short and sweet.

reply to post by princeofpeace


why is it on the tight part i am picturing two black men doing the respect shake?

but on a serious note thats just BS

if Israel attacks Iran its the end of Both countries (and i doubt that india want radioactive Oil)

or if the US attacks hopefully it will be the destruction of the US and Iran and Israel, well all parties envolved that is, (its not wrong asking for the blood to spilt of americans aswell as the persions if the americans decide to attack another country)

reply to post by ~Lucidity


The US and the UN should be aware that there are several prominent countries who have deep interests in Iran.

Countries like China, Russia, India and even Pakistan.

The UN has declared war on Iran with these new sanctions and tensions will only grow if some of the largest populated nations of the world have the energy noose tightened around their neck.

Who do you think they will side with if conflicts occur?

~Keeper