Tuesday 30 May 2017

India ‘exploring more options for Iran payments’

Mumbai, January 24, 2012

The Reserve Bank of India's Governor Duvvuri Subbarao said there were some arrangements in place for oil-related payments to Iran, which were working fine, and the central bank was also exploring other options.

India, the world's fourth-largest oil consumer, buys around 12 per cent of its oil from the Islamic Republic. It pays through a Turkish bank after a previous clearing mechanism was shut down in December 2010. – Reuters

Tags: India | Iran | Mumbai | Reserve Bank | payments |

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