BREAKING NEWS

Indian official to visit Iran to discuss oil dues

By REUTERS

JULY 22, 2015 15:44

NEW DELHI - India's top financial bureaucrat will visit Iran this weekend to discuss how to pay its oil import dues, sources said on Wednesday, after Tehran struck a deal with world powers to curb its nuclear program in return for the lifting of sanctions.

Finance secretary Rajiv Mehrishi will lead a delegation to Iran from July 25-27, said three sources with direct knowledge who declined to be named due to the sensitivity of the matter.

Indian refiners owe about $6.5 billion to the OPEC member state for oil purchases that they have been unable to settle because international payment channels were blocked by western financial sanctions.

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