India to pay Iran money owed for oil

By JPOST.COM STAFF
August 1, 2011 09:33

Indian and Iranian sources reported on Monday that India had agreed to pay its outstanding oil bills to Iran, according to BBC News.

India was having trouble paying its debt to Iran because of US led sanctions on the Islamic Republic. However, Iran threatened to cut off its oil supply to India unless the bill was closed as soon as possible, said a BBC News report.


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