India to clear some oil payments to Iran: Report
India plans to clear some pending oil payments to Iran under a new framework which involves the US Federal Reserve and the central bank of the United Arab Emirates, a report says./ Under the proposed arrangement, the Reserve Bank of India (RBI) would transfer Iran’s money in dollars to the UAE central bank’s account in the United States, Reuters reported. Under the November 2013 interim nuclear deal between Iran and six world powers, Tehran has access to its USD 4.2 billion in frozen funds globally. The Office of Foreign Assets Control ...
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