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<b>
India to Disburse Oil Debts to Iran in euros
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Iran and India has reached an agreement in which India is responsible to pay all outstanding debts to Iran for previous oil purchases in euros.
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Tehran (NIOC)  - 9 April 2016
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India’s Petroleum and Natural Gas Minister Dharmendra Pradhan has stated that New Delhi’s oil payments to Iran will be made through a bank in Turkey. 
<br><br>On the same front, Iran’s Oil Minister Bijan Zangeneh has said that two more banking channels will be opened in the near future to handle India’s outstanding and future oil payments to Iran. 
<br><br>Zangeneh said the same channels will enable the Central Bank of Iran (CBI) to access $6 billion that India owes Iran. 
<br><br>He further emphasized that all payments from India to Iran will be in cash and no barter in goods and commodities will be ever made. 
<br><br>Indications appeared in the media in early March that the two sides have come across differences over settling of the debts.
<br><br>The difference reportedly involves the foreign exchange rate for the sum that India owes Iran.


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<br><a href="http://www.nioc.ir/" target="_blank">National Iranian Oil Company (NIOC) press release</a>





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