Minister calls for regular payment of India for oil purchase from Iran

EghtesadOnline: Economy Minister Ali Tayebnia on Sunday called for regular payment of India for oil purchase from Iran.

News ID: ۷۷۰۲۴۰

11 October 2016

Tayebnia made the remarks in a meeting with his Indian counterpart Arun Jaitley in Washington.

Tayebnia is currently on a visit to Washington to attend World Bank annual meeting, reports IRNA.

In the meeting, Tayebnia said that the Central Bank of Iran is keen on brokerage ties with the Indian banks.

Tayebnia said that economic sanctions halted brokerage cooperation between the two sides.

He regretted that after lifting the sanctions, the banking ties have not been restored yet, Tayebnia said.

Indian economy minister Arun Jaitley said for his part that New Delhi remains committed to repayment of Iran's oil money based on the agreement signed between the two countries.

In the first eight month of the year 2015, India purchased some 214,000 bpd oil.

India, China, South Korea and Japan are the biggest purchaser of Iran's crude oil.