This is an archive article published on February 6, 2018

Opinion February 6, 1978, Forty Years Ago: Largesse From Iran

February 6, 1978: Iran will give more crude oil to India on credit to enable this country to raise money needed for key projects.

February 6, 2018 01:02 AM IST First published on: Feb 6, 2018 at 12:16 AM IST

Front page of the Indian Express on February 6, 1978

Iran will give more crude oil to India on credit to enable this country to raise money needed for key projects. The joint communique issued at “the end of the highly successful visit of the Shah of Iran said the additional crude supplies would be made available annually at OPEC prices ‘‘on credit terms or lumpsum payment, as may be suitable”. The sales of the oil supplies will generate enough resources to finance such projects as the second stage of the Rajasthan Canal, alumina project for the eastern coast deposits of bauxite, and a paper and pulp factory in Tripura. While details are yet to be worked out, the joint communique provides for a built-in mechanism for repayment of Iranian credit given in the form of crude oil over a period of time, in cash or kind.

Shah’s Sane Advice

The Shah of Iran has reportedly conveyed to the Indian leaders that he had minced no words in telling Pakistan that another war with India would be the end of that country. He believed to have asked the Pakistani leaders what they had gained in wars with India; in fact, the last time they lost one of their wings. Giving a gist of the talks the Shah has had with Islamabad off and on, he has told New Delhi that his advice to Pakistan has been to bury the hatchet with India and develop the friendliest ions with it.

Vietnam Upset

Vietnam has recalled its chief delegate to the United Nations, Dinh Ba Thi, after accusing the US of hindering his activities, the Vietnam News Agency said. Thi was named by a US federal grand jury as an unindicted co-conspirator in a spying case involving an American employed by the US government and a Vietnamese student. The Vietnamese diplomat has been resisting a US expulsion order issued after Washington declared him persona non grata on Friday.