Friday, January 9, 2009

Reliance Industries Ltd., The US Exim Bank and Iran Gas supplies

On Dec 20, 2008, this report on India Business News Live stated that 8 United States Congressmen, 4 from the Republican Party and 4 from the Democratic Party wrote to James Lambright, President of the United States Export-Import Bank asking the bank to secure an understanding with Reliance Industries Ltd. that gasoline supplies to Iran will be suspended before the disbursement of two loan guarantee packages worth $ 900 million. Prior to the Exim bank transaction, RIL received a loan of $ 400 million from JP Morgan in August 2008.
The Reliance Industries Ltd. expansion program will significantly improve United States exports to India.
On January 08, 2009, energy business review reported that RIL has announced it is suspending gasoline supply to Iran after fulfillment of its existing contract.
Following an Iran News Blog with great cartoons on it has paid off in terms of financial insight today.

No comments:

Post a Comment