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22 Mar 2017

India tries to fix Iran trade payments as Trump hardens line

India is exploring setting up a new payments mechanism for trade with Iran, after its old sanctions workaround broke down, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo.

05 Apr 2016

RBI exploring modalities of oil payments to Iran: Rajan

The Reserve Bank of India is holding discussions with Tehran on modalities of payment of reported dues of USD 6.5 billion for oil imports, Governor Raghuram Rajan said.

19 Jun 2014

India to pay $1.65 billion Iran oil dues via UAE

India will pay Iran USD 1.65 billion through the UAE central bank to clear over 40 percent of the backlog payments for oil imports.

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