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Iran says India has paid two thirds of oil debt

Source: ISNA

Iranian Central Bank Governor Mahmoud Bahmani said on Monday India has paid off two thirds of its oil debt to Iran. "Iran is receiving the remaining amount of the debt from India and there is no problem in this regard," Bahmani said.

Iranian Central Bank Governor Mahmoud Bahmani talking to reporters

Bahmani confirmed that Iran and India have discussed India paying for some of its oil in gold. "Such talks have taken place and we will do that if necessary," he said.

Iranian Central bank Governor denied media reports of similar payment problems with China and South Korea. "We are not facing any problems in this regard," he said.

India is Asia's third-largest economy and Iran's second-largest oil consumer after China.

Although there is no international ban against buying Iranian crude, the US and the EU have imposed sanctions on financial and trade transactions with Iran and the US is putting other countries under pressure to take similar measures.

The UN Security Council has imposed four sets of sanctions against Iran over its refusal to halt peaceful nuclear program.

The embargo mainly targets Iran's banking and energy sectors as well as insurance and shipping industry.

Iran insists its enrichment work only seeks peaceful purposes, whereas the West claims that Iran is after nuclear weapon.

... Payvand News - 08/15/11 ... --

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