Thursday, 6 December 2018

After sanctions relief, India changes mode of payment for Iranian oil

The memorandum of understanding (MoU) was signed following the US letting India and seven other nations to keep buying Iranian oil despite sanctions were reimposed on the Islamic state on November 5. Sources said Indian refiners will make rupee payments in a UCO Bank account of the National Iranian Oil Co (NIOC).

from Times of India https://ift.tt/2L6BGdb

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