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Iran's treasury didn't get oil revenue from India

Source: Radio Zamaneh

Supreme Audit Court, IranWhile Iran's Ministry of Oil and Central Bank have announced on several occasions that India's oil payments are up to date, the National Audit Organization says the treasury has not yet received the revenue from oil sales to India.

Iran exports a daily average of 400 thousand barrels of oil to India. But in the past year, international sanctions against Iran have made it difficult to receive the revenue.

India has delayed payments since last January, but in August, Iranian bank authorities announced that a billion dollars in Indian oil debt had been paid out.

Later, the head of the Central Bank announced that it had received all of India's $5-billion oil debt.

The recent report from the audit organization reveals that some of the oil revenues from India were not transferred to the treasury and instead have been invested in India.

Iranian MP Hamid Katouzian told the Mehr News Agency that the audit report shows the government and the Central Bank have violated regulations regarding the Indian oil revenues. He criticized the move to invest the revenue in India, saying the money must return to Iran to fund national development and job creation.

... Payvand News - 10/02/11 ... --

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