Iranian, Indian officials to meet on oil fund row: ambassador

April 11, 2011 - 0:0

TEHRAN- Tehran’s Ambassador to New Delhi has announced that Iranian and Indian officials will hold talks next week to discuss the difficulties faced by India in paying for crude oil imports from Iran.

Officials from the Central Bank of Iran and the Central Bank of India will hold a meeting next week to help resolve the issue, Ambassador Mehdi Nabizadeh told ISNA on Sunday.
The problems in disbursing money to Iran for oil shipments first surfaced in December, when India’s Central Bank stopped payments through a regional financial clearing house that the United States says is used by Tehran to avoid international sanctions, according to VOA.
Indian companies, which obtain significant oil supplies from Iran, then began routing money to Tehran through the European Iranian Trade Bank, based in Germany.
But this arrangement was also scrapped this week because the United States believes the bank supports Iranian firms involved in the country’s nuclear program.
Iran’s ambassador to New Delhi also said, “On the one hand the Indian officials want to resolve the problem, but on the other hand they do not want to defy international resolutions.”
Nabizadeh also announced that the export of oil to India has not been halted.