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News Brief | June 2016

India seeks to pay $6.5 bn to Iran for oil imports

India has approached Turkey´s Halkbank to facilitate the payment of $6.5 billion (about Rs.43,400 crore) it owed to Iran for the crude oil imported when western sanctions were in place on Tehran.
Iran has been demanding faster payment of oil dues and in euros. India has put the process into motion ahead of PM Narendra Modi´s May 22-23 trip to Iran.
Contact: Ministry of Petroleum and Natural Gas
Website: www.petroleum.nic.in
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