India Offers Tax Breaks on Iran Exports Despite U.S. Pressure!
- The Anglo-American-Zionist Illuminist hegemony is falling apart. The world is getting sick of their constant war mongering, never-ending wars, constant lying and false flag attacks to justify wars. The EU is under their grip but not the BRICS nations.
- The only card let for them to play is war! They will attempt to start their Satanic World War 3 – Greater Middle East War plans. The objective is the destruction of the Middle East and in particular the oil supplies. Once ME oil supplies dries up, much of Asia will collapse. Russia and America will remain standing because of their enormous domestic oil supplies. America has the largest oil reserves in the world which the Illuminist Big Oil cartel is hiding. Europe will be a casualty.
India offers tax breaks on Iran exports despite U.S. pressure!
By Manoj Kumar
(Reuters) – The Indian government will offer tax incentives to exporters for sales in rupees to Iran, in the latest effort by New Delhi to bolster exports in return for oil from the Islamic Republic squeezed by Western sanctions, a finance ministry official said.
Following U.S. and European Union sanctions against Tehran over its nuclear program, New Delhi is under pressure to cut oil imports from its second-biggest supplier, which provides about 12 percent of its oil needs.
India has publicly taken a stand alongside other rapidly emerging countries, including China and Brazil, that it would follow only U.N. sanctions, a position criticized by conservatives in Washington. To skirt the sanctions, India this year decided to buy oil through a mechanism that lets refiners deposit rupees, which are not freely traded on global markets, for about 45 percent of Iranian crude purchases in an account at India’s UCO Bank.
India sent a trade delegation in March to Iran to boost merchandise exports as a way of securing oil in return. But the delegation came back empty handed, and Indian exporters have complained of difficulties in trading through the new mechanism.
In response, the finance ministry will now offer tax incentives in the range of 4-12 percent of the value of products to exporters for sales to Iran in rupees. That brings them on a level playing field with exports sold in freely convertible currencies, such as the dollar.
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