Iran now wants to get back its euros owed by India through a new channel. It wants New Delhi to pay the money that Tehran owes to third countries for purchase of food, medicines and medical equipment.
With nuclear talks between Iran and P5+1 (the US, Britain, France, China, Russia and Germany) going slow, Tehran has approached New Delhi for allowing third country exports of humanitarian goods for drawing down the $3.6 billion accumulated balance on account of India's oil imports.
India is set to pay Iran $1.65 billion under an interim nuclear deal that eases sanctions on Tehran and gives it access to $4.2 billion in blocked funds. As long as Tehran complies with the terms of its preliminary pact with P5+1, Iran receives some of its funds abroad frozen with various buyers over six months.
Copyright 1999-2015 Worthy News. All rights reserved.Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.