Iran Economy NewsIndia may finalise Iran oil payment route soon-secretary

India may finalise Iran oil payment route soon-secretary

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Reuters: India may finalise routing of funds as payment towards Iran oil imports in the next few days, Oil Secretary S. Sundareshan said on Wednesday.

NEW DELHI, Jan 19 (Reuters) – India may finalise routing of funds as payment towards Iran oil imports in the next few days, Oil Secretary S. Sundareshan said on Wednesday.

The two nations have so far not been able to find a solution on how New Delhi should pay for oil imports from Iran after India’s central bank said last month that payments to the Middle Eastern nation could no longer be settled using a long-standing clearing house system run by regional central banks.

(Reporting by Nidhi Verma; editing by Malini Menon)

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