TEHRAN (NNN-FNA) -- A senior Iranian banking official confirmed that India has paid its multi-billion-dollar oil debts to Iran.Governor of the Central Bank of Iran (CBI) Mahmoud Bahmani said on Sunday that New Delhi's five-billion-dollar debt to Tehran has been fully settled.
Yet, India still has unpaid debts to Iran since Tehran is continuing supply of crude to Indian refineries at present, but these are not overdue payments, he reminded.
Although the Indian side was interested in paying its debts through swap deals, the request was not accepted by Tehran, Bahmani told the Islamic republic news agency.
Since December, India and Iran have been struggling to find ways for New Delhi to pay for imports of 400,000 barrels per day, 12 percent of its oil demand, after the Reserve Bank of India halted a clearing mechanism under US pressure.
Earlier reports said that Indian refiners such as Mangalore Refinery and Petrochemicals (MRPL) have opened rupee accounts in the New Delhi branch of Union Bank of India, which will route euro payments to state-owned Turkiye Halk Bankasi (Halkbank) in Istanbul.
Halkbank then transfers that money to the account of NIOC, sources involved in the process said.
Meantime, Press Trust of India recently quoted Indian Finance Minister Pranab Mukherjee as saying that India is making regular payment for Iran crude oil. -- NNN-FNA
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