''The government has done the right thing by pushing back against US pressure to stop importing oil from Iran. Secretary of state Hillary Clinton brought up the subject during her visit this week, other American dignitaries will also exert similar pressures. India cut its imports from Iran to 14 million tonnes last fiscal from 17.5 million tonnes the previous year, largely because of hurdles in making payments, imposed by the US and EU.
The government should revive the earlier payment mechanism through the Tehran-based Asian Clearing Union, which includes both the Reserve Bank of India and Iran's Central Bank as members. India's energy needs are growing, it can't depend on any one supplier for its fuel needs. In any case, no other nation has the right to tell India who it should trade with. America's problems with Iran date back to the Islamic revolution of 1979; its recent prickliness stems from its suspicions that Iran might be building a nuclear bomb.''
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The government should revive the earlier payment mechanism through the Tehran-based Asian Clearing Union, which includes both the Reserve Bank of India and Iran's Central Bank as members. India's energy needs are growing, it can't depend on any one supplier for its fuel needs. In any case, no other nation has the right to tell India who it should trade with. America's problems with Iran date back to the Islamic revolution of 1979; its recent prickliness stems from its suspicions that Iran might be building a nuclear bomb.''
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