Vibs
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Iran has resolved a payment problem over the countrys oil exports to India, the managing director of the National Iranian Oil Company has announced.
After crucial talks between India and Iran, both sides agreed to clear the debt promptly, and in the coming days, part of Indias oil debt will be cleared and the rest will be gradually settled, the SHANA news agency quoted NIOC Managing Director Ahmad Qalebani as saying on Sunday.
Elaborating on the issue, the director of the NIOC international affairs department, Mohsen Qamsari, told SHANA, With the start of international banks working hours on Monday, the amounts deposited by the Indians in the designated accounts will be known.
Since the payment issue is being resolved, Irans crude exports to India will continue without any interruption, he stated.
New Delhi imports 400,000 barrels of crude per day from Iran -- 12 percent of its oil demand.
Also, Reuters reported on Sunday that after a successful test payment in euros through Turkeys Halkbank, Indian refiners are expected to clear over $5 billion of debts built up with Iran during a lengthy U.S.-inspired payment impasse.
India and Iran have been looking for ways for New Delhi to pay for its crude oil imports from Iran since the Reserve Bank of India halted a clearing mechanism under U.S. pressure last December.
Executives at Indian refineries said in late July that they had still not received any crude oil supply notices for August after Iran told them it would stop shipments over the ballooning debt.
An Iranian official, who spoke on condition of anonymity, told Reuters India would pay mainly in euros but also use other currencies to settle its oil debt to Iran.
Both sides are determined to resolve the problems through different methods, he added.
Different currencies will be used by India to pay its debt to Iran, but the main part of the payment will be in euros, the official said.
Tehran Times - Iran's Leading International Daily
After crucial talks between India and Iran, both sides agreed to clear the debt promptly, and in the coming days, part of Indias oil debt will be cleared and the rest will be gradually settled, the SHANA news agency quoted NIOC Managing Director Ahmad Qalebani as saying on Sunday.
Elaborating on the issue, the director of the NIOC international affairs department, Mohsen Qamsari, told SHANA, With the start of international banks working hours on Monday, the amounts deposited by the Indians in the designated accounts will be known.
Since the payment issue is being resolved, Irans crude exports to India will continue without any interruption, he stated.
New Delhi imports 400,000 barrels of crude per day from Iran -- 12 percent of its oil demand.
Also, Reuters reported on Sunday that after a successful test payment in euros through Turkeys Halkbank, Indian refiners are expected to clear over $5 billion of debts built up with Iran during a lengthy U.S.-inspired payment impasse.
India and Iran have been looking for ways for New Delhi to pay for its crude oil imports from Iran since the Reserve Bank of India halted a clearing mechanism under U.S. pressure last December.
Executives at Indian refineries said in late July that they had still not received any crude oil supply notices for August after Iran told them it would stop shipments over the ballooning debt.
An Iranian official, who spoke on condition of anonymity, told Reuters India would pay mainly in euros but also use other currencies to settle its oil debt to Iran.
Both sides are determined to resolve the problems through different methods, he added.
Different currencies will be used by India to pay its debt to Iran, but the main part of the payment will be in euros, the official said.
Tehran Times - Iran's Leading International Daily
