http://www.financialexpress.com/article/economy/iran-ends-free-oil-shipping-to-india/236796/
Iran, no longer under sanctions, has ended free shipping of crude oil
to India and has terminated a three-year old system of getting paid for
half of the oil dues in rupees.
The Persian Gulf nation is now insisting on being paid in Euros for
the oil it sells to Indian refiners. It also wants refiners like Essar
Oil and Mangalore Refinery and Petrochemicals Ltd (MPRL) to clear nearly
$6.5 billion of past dues in Euros, officials said.
Iran had in November 2013 offered free delivery of crude oil to
Indian refiners as tough Western sanctions crippled its exports. With
shipping lines refusing to transport Iranian crude for fear of being
sanctioned, Iran used its shipping line for the delivery and did not
charge for transportation.
Iran, no longer under sanctions, has ended free shipping of crude oil
to India and has terminated a three-year old system of getting paid for
half of the oil dues in rupees.
The Persian Gulf nation is now insisting on being paid in Euros for
the oil it sells to Indian refiners. It also wants refiners like Essar
Oil and Mangalore Refinery and Petrochemicals Ltd (MPRL) to clear nearly
$6.5 billion of past dues in Euros, officials said.
Iran had in November 2013 offered free delivery of crude oil to
Indian refiners as tough Western sanctions crippled its exports. With
shipping lines refusing to transport Iranian crude for fear of being
sanctioned, Iran used its shipping line for the delivery and did not
charge for transportation.
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