DEBKAfile Special Report April 17, 2012
India has, for the first time in its history, penalized a foreign defense vendor, Israel’s Military Industries (IMI), for alleged breach of contract and confiscated its $70 million guarantee - alone of the five defense vendors recommended to be blacklisted for alleged involvement in graft. An IMI dossier was filed with the Indian authorities countering the charge. India is strongly suspected in Jerusalem of cooling its defense relations with Israel to line up with Tehran and Moscow and their refusal to join sanctions against Iran.
DEBKAfile Exclusive Report January 23, 2012
India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, debkafile reports exclusively. Our sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran's total exports of 2.5 million bpd. Both will therefore substantially cushion the impact on the Iranian economy of the European decision of Monday, Jan. 22, to impose an oil embargo on Iran and freeze the assets of its central bank.
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