Iran Economy NewsIran to ensure oil supplies to India until end...

Iran to ensure oil supplies to India until end of month

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Wall Street Journal: Iran has assured India of uninterrupted crude oil supplies in January and has proposed a temporary payment channel through a bank based in Germany, a senior Indian official said Tuesday.

The Wall Street Journal

By RAKESH SHARMA

NEW DELHI –Iran has assured India of uninterrupted crude oil supplies in January and has proposed a temporary payment channel through a bank based in Germany, a senior Indian official said Tuesday.

The National Iranian Oil Co., in a letter to Indian oil companies, said payments can be routed through a euro account at the Europaisch Iranische Handelsbank AG, the official, who declined to be named, told reporters.

The India government has advised the oil companies to open individual accounts with State Bank of India, which in turn will make payments to the German bank, the official said.

The central bank of Iran has an existing account at EIH AG, the official said.

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