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India to clear 750m dollars in oil debts to Iran
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India to clear 750m dollars in oil debts to Iran
by GypZ Thu May 26, 2016 9:00 pm
http://www.irna.ir/en/News/82083464/
India to clear 750m dollars in oil debts to Iran
India to clear 750m dollars in oil debts to Iran
New Delhi, May 21, IRNA – Informed sources in New Delhi have announced that India will deposit 750 million dollars in its oil debts in Iran's account.
The money will be put in Iran's account on the eve of the visit of Indian Prime Minister Narendra Modi to Iran.
State refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) reportedly paid $500 million and Indian Oil Corp (IOC) $250 million of the sum.
Indian oil refineries have transferred the money in oil debts to the account of National Iranian Oil Company in Halkbank of Turkey through the Union Bank of India.
Private sector Essar Oil has also announced that it is due to pay another $500 million to Iran in oil debt.
Indian officials had already announced that closure of the channels of payment to Iran was among the main obstacles to oil debt payment to Iran.
1420**1412
State refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) reportedly paid $500 million and Indian Oil Corp (IOC) $250 million of the sum.
Indian oil refineries have transferred the money in oil debts to the account of National Iranian Oil Company in Halkbank of Turkey through the Union Bank of India.
Private sector Essar Oil has also announced that it is due to pay another $500 million to Iran in oil debt.
Indian officials had already announced that closure of the channels of payment to Iran was among the main obstacles to oil debt payment to Iran.
1420**1412
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