Iran wants India to pay oil dues in euros
Sources said Iran has not yet decided on utilisation of the USD 3 billion which has accumulated in the rupee account with UCO Bank./ NEW DELHI: Iran has asked Indian refiners such as Essar Oil and Mangalore Refinery and Petrochemicals Ltd (MRPL) to clear its past oil dues amounting to over USD 6 billion in euros within six months. With US lifting sanctions, Iran has told Indian authorities that the three-year old mechanism, paying 45 per cent of oil import bill in rupees and keeping the remaining 55 per cent pending for payment channels to ...
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