U.S. Credit Rating Rides on S&P’s London View of Politics on Capitol Hill

David Beers may be the most influential political commentator in the U.S. right now, even though he’s hardly a household name, that isn’t technically his job and he’s only visiting.

As the London-based managing director of sovereign credit ratings at Standard & Poor’s, Beers will help determine whether the U.S. government’s credit rating will be downgraded as a result of the battle over raising the debt limit.

Iran to Keep Selling Oil to India After Warning on Payments, Official Says

Iran’s oil exports to India are continuing with no plans to halt supplies after a warning to the neighboring country over delays in paying for imported crude, an Iranian Oil Ministry official said.
“A warning was sent to indebted refineries but sending this letter doesn’t mean Iran’s oil exports to India were cut,” Mohsen Qamsari, the National Iranian Oil Co.’s head of international affairs, told the Oil Ministry’s news website, Shana. “We have no intention of halting our supplies to the Indian market.”

A Wall Street Journal report published July 1 cited two Indian refiners as saying that Iran warned it will stop oil supplies starting next month if pending bills aren’t cleared. NIOC made the warning in a letter requesting a sustainable mechanism for making payments.
Indian refiners owe Iran about $2 billion over oil imports due to complications on making payments to the Persian Gulf country. Iran is under international sanctions over its nuclear program, and punitive measures include restrictions on financial transactions with the country.

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