Iranian ambassador to New Delhi Mehdi Nabi-Zadeh said the country's oil export to India is likely to be halted. He said Iranian and Indian central banks should ease disputes on payment of oil supplies, "we have called for India to find a solution one and half year ago and we may have to stop oil supplies to India if they fail to do so."
"Iranian and Indian joint delegations have held talks with certain countries to find a way to settle oil debts to Tehran. We hope an approach is fined soon to transfer oil debts to Tehran," he told ISNA.
Iranian Foreign Minister Ali Akbar Salehi invited by his Indian counterpart SM Krishna is to visit India within next 2 months.
Indian Foreign Minister is scheduled to visit India for joint economic cooperation commission in Tehran.
Energy-hungry India secures more than 400,000 barrels of crude oil a day from Iran.
Trade between the two countries amounts to $12 billion a year.
Source: Mehr News Agency, Tehran
China's oil imports from Iran increased by around 50 percent in the first half of 2011 compared to the same period the year before, reaching near 13.5 million tons, the General Administration of Customs of the People's Republic of China announced this week.
According to the report, China imported 650,000 barrels of Iranian oil per day in June, a jump of 53% from May.
Iran was the third largest oil supplier to China in the first half of 2011, after Saudi Arabia and Angola.
Saudi Arabia exported more than 24.1 million tons of oil to China and Angola supplied the Asian country 15.5 million tons of crude in the first six months of 2011.
China imported 280,104 tons of naphtha from Iran from January 2011 to June 2011, which shows a 280% rise in comparison to the same period in 2010. Iran is the second leading exporter of naphtha to China.
Iran's liquefied petroleum gas (LPG) exports to China in the first half of 2011 hit 352,130 tons, which is an increase of 72% compared to the same period last year.
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