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Thu Dec 15, 2011, 03:09 PM

India Studying Oil Payments to Iran via Russia [View all]

TEHRAN (FNA)- Indian government sources said on Thursday that New Delhi is exploring the option of paying for Iranian oil imports through Russian intermediaries.

"This is being considered in light of sanctions being considered (against Iranian oil trade) by some countries," a senior government source said Thursday.

Iran and India have struggled to find a conduit through which to clear accumulated debts arising from import of Iranian oil. Last year India's central bank scrapped a clearing house mechanism.

Iran is India's second-biggest oil supplier after Saudi Arabia and exports total about $12 billion a year, meeting about 12 per cent of India's import needs.

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http://english.farsnews.com/newstext.php?nn=9007277480

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Reply India Studying Oil Payments to Iran via Russia [View all]
Purveyor Dec 2011 OP
patrice Dec 2011 #1