India plans more transparent Iran oil payments
A worker holds a fuel nozzle at a petrol pump in Mumbai June 11, 2010./ Royals, races and refined headwear at the Royal Ascot./ (Reuters) - India plans to clear some pending oil payments to Iran through the United Arab Emirates central bank, three sources with knowledge of the matter said, under a new payment system that would allow Washington to track the flow of funds closely. The payment of $1.65 billion under the revised mechanism includes a step in which funds would be routed through the U.S. Federal Reserve. An interim nuclear deal ...
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