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India-Iran Talks Soon Over Oil Dues 
Energy

India-Iran Talks Soon Over Oil Dues 

Iran will soon begin talks with India on finalizing a mechanism to recover more than $6.5 billion in oil dues held by Indian refiners, Iran’s envoy to India said on Friday after western powers and Tehran clinched a final nuclear deal last week. “In the very near future, we will exchange delegations to discuss how we can handle these issues,” Gholamreza Ansari, Iranian ambassador to India, told Reuters. He said that the meeting would happen in a “matter of weeks,” but that the place and time are yet to be decided. Indian refiners owe Iran about 55% of the bill for crude bought since February 2013, after banking channels were shut under pressure from US and European sanctions.

 

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