Iranian delegation due in India to clear oil debts

[[Bregs]]

Are you sure Irans money was put aside and not spent on other things? Will India clear its debts to Iran ?

India owes Iran $8.8 billion for oil - minister| Reuters

India refiners settle 45 percent of Iranian oil payments by depositing rupees in Tehran's commercial banks' account with UCO Bank, and withhold the remaining 55 percent. Iran taps funds in the rupee account to import goods from India.

The balance in Iranian commercial banks' accounts with UCO Bank was 178.955 billion rupees ($2.86 billion) as of March 16 while refiners owed Tehran $5.943 billion as on Feb. 28, Nirmala Sitharaman told lawmakers in a written reply on Friday.


Indian official to visit Iran to discuss oil dues - The Economic Times

The official said of the total outstanding to Iran, Essar Oil owes about USD 3.5 billion and MRPL USD 2.5 billion. The rest USD 500 million is to be paid by Indian Oil Corp (IOC)