By Micah Halpern
I've Been Thinking
Just hours after US Secretary of State Hillary Clinton wrapped up a two day diplomatic blitz in India, a huge bombshell drops.
The Clinton visit was all about getting on board against Iran. Clinton was pressuring India to restrict their oil imports from Iran.
Here is the bomb: Within hours after the visit, India and Iran signed a deal - a trade deal. Ostensibly, the deal is for India to provide sugar, rice and soybeans to Iran. In reality, it is a barter for oil.
Iran gives oil to India. India pays for the oil with sugar, rice and soybeans. This way, Iran does not have rupee problems and currency issues - and India is not in trouble for violating international sanctions by giving Iran US dollars.
We know this is happening because Iran has always been skittish about taking rupees. In February Iran took payment of only 45% in currency for their oil shipments.
This is a classic diplomacy story with the United States. Allies agree with the United States when they talk to the United States, and when the conversation is over, they turn around and do whatever is in their own best interests. The US has not yet learned that lesson
Micah@MicahHalpern.com
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