Essar Oil makes USD 500-mn payment to Iran via new channel
via a new payment channel opened recently to clear one-fifth of its outstanding. Indian refiners are using Germany-based EIH bank to help clear past oil dues to Iran. Industry sources said Essar Oil, which owed about USD 2.6 billion in past dues, paid USD 500 million. Sources said MRPL, which owed Iran USD 2.6 billion before the payments started last month, paid USD 300 million this month on top of USD 500 million it paid in May. IOC cleared another USD 30 million over and above the USD 250 million it paid last month. The company owed USD ...
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