India Buying Iran's Oil In Gold & Drops Dollar - China Considering Same Deal

India Buying Iran's Oil In Gold & Dropps Dollar - China Considering Same Deal - EU Oil Embargo FAILED!


Iran's second largest customer after China, India purchases around $12 billion a year's worth of Iranian crude, or about 12 percent of its consumption. Delhi is to execute its transactions, according to our sources, through two state-owned banks: the Calcutta-based UCO Bank, whose board of directors is made up of Indian government and Reserve Bank of India representatives; and Halk Bankasi (Peoples Bank), Turkey's seventh largest bank which is owned by the government.

An Indian delegation visited Tehran last week to discuss payment options in view of the new sanctions. The two sides were reported to have agreed that payment for the oil purchased would be partly in yen and partly in rupees. The switch to gold was kept dark.
What could go wrong?


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India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil.


According to a report published by DEBKAfile news website, unnamed sources have stressed that China is also expected to follow suit.

India and China take about one million barrels per day (bpd), or 40 percent of Iran's total exports of 2.5 million bpd and both of them have huge reserves of gold.

The report added that by trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its Central Bank's assets and the oil embargo which the European Union's foreign ministers agreed to impose on Monday, January 23.

The EU currently buys around 20 percent of Iran's oil exports.

On the other hand, experts say the vast sums involved in these transactions are expected to boost the price of gold and depress the value of the dollar on world markets.




"An Indian delegation visited Tehran last week to discuss payment options in view of the new sanctions. The two sides were reported to have agreed that payment for the oil purchased would be partly in yen and partly in rupees. The switch to gold was kept [in the] dark," the report stated.

India is Iran's second largest customer after China, and purchases around USD 12-billion-a-year worth of Iranian crude, or about 12 percent of its consumption.

Delhi is to execute its transactions, the report said, through two state-owned banks: the Calcutta-based UCO Bank, whose board of directors is made up of the Indian government, the Reserve Bank of India representatives, and Halk Bankasi (Peoples Bank) -- Turkey's seventh largest bank which is owned by the government.

US President Barack Obama signed into law, on December 31, 2011, new sanctions which seek to penalize other countries for importing Iran's oil or doing transaction with Islamic Republic's Central Bank.

Foreign ministers of the European Union also imposed sanctions on Iran's oil imports over the country's peaceful nuclear program during their Monday meeting in Brussels.

The sanctions involve an immediate ban on all new oil contracts with Iran and a freeze on the assets of the country's Central Bank within the EU.

Tehran has warned that the embargo will have negative consequences, such as increasing the oil price.




EU oil embargo FAIL iran selling oil in gold dollar dropped devalued india dropps usd china russia

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[tracycolorado]

And The Walls  Start To Tumble Down .

[SurvivalWithBushcraf]

@tracycolorado I was thinking the same thing...  Time to finish all them preps left unfinished, dang I wish I had more money...

[kellyelainewright61]

We should have made Ron Paul president in 08 ,we wouldn't be in this mess right now . Ron Paul 2012 !

[SurvivalWithBushcraf]

@kellyelainewright61 AGREED! Ron Paul 2012!!!

[PrecisePuncher]

thank you for re-uploading these! for "some" reason, a lot of my RT videos don't show up in my sub list.

[SurvivalWithBushcraf]

@PrecisePuncher This never showed in my subscription box, so i figured it may be good to re-upload...  Funny how all the important stuff never shows...

[a2zhandi]

hahaha, the players are getting beat at their own game!

[XenuriWeb]

Good its time the world stands up to the US bully

[IdigHistoryVideo]

What is the source for this video? Was this RussiaToday? Any other videos or stories on this?

[laluprasad111]

@kellyelainewright61 No Ron Paul please.....someone like obama is good.....

[Boomies559]

petro dollars/oil... the war is just a mask or "smokescreen" to hide the real reason behind invading iraq. in 2000 saddam hussein wanted to exchange euros for oil instead of the dollar and look at him and their country now. Libya wanted to setup a gold for oil exchange and phase out the dollar and look what happened to them the past yr. IRAN IS DOING PRETTY MUCH THE SAME THING which is replacing the dollar. Remember the federal reserve cant print euros or gold so of course the US is worried.

[sissumghy]

Well, well... looks like our government has been beaten by it's own game. I love America but, we must stop policing the world! China & Russia will follow India with paying gold 4 oil. Most Americans don't even realize what that means. Game Over-Crash of Dollar-Chaos-Epic Chaos!! In 1998 a man named Ron Paul called this "an unintended result of foreign policy." Maybe we should listen to him NOW!

[johnbarkand]

@subaraptor Ron Paul 2012!

[johnbarkand]

@SurvivalWithBushcraf  Dr. Paul 2012!

[johnbarkand]

@tracycolorado silly USA, tricks are for kids, a.k.a. " the paper tiger revealed"

damm!, can i run my car on weapons of mass destruction?... Where's the cheapest

blast in town?... Come on baby light my fire! Ron Paul 2012

[Sandinobobo]

LET US SAVE OUR AMERICA FROM THESE THIEVES AND MURDERERS, WHO HAVE NO RESPECT WHAT SO EVER FOR THE BILL OF RIGHTS, AND THE RULE OF LAW NOW!! BEFORE IT IS TOO LATE!

[Sandinobobo]

Ron paul or john paul, or obama or jesus! no difference! Absolutely no difference. As soon as they get there it is just a do as i say typa deal. they become the bitches of corporate thieves. simple! America needs a revolution! And our future and the future of our country, our children lies in our hands now. THE AMERICAN REVOLUTION NOW!!!