India to pay for petrochemicals imported from Iran in rupee

Business Materials 4 January 2019 09:17 (UTC +04:00)

Tehran, Iran, Jan.4


A bank account has been created in India for Iran, outgoing Indian Ambassador to Iran Saurabh Kumar told Trend.

He noted that 50 percent of the oil revenues of Iran is deposited there in rupee and 50 percent in euro.

India will pay for the petrochemicals imported from Iran in rupee, which Iran can exchange to euro in India and then withdraw from the country, said the envoy.

Further, talking about the development of Iran's Farzad-B gas field, Kumar noted that good discussions were held on Farzad-B gas field, but no significant changes have been made in terms of fulfillment.

"It should be kept in mind that due to the existing problems, it is not possible to determine the exact time to start the Farzad-B development,” he said.

In general, the Indian ambassador noted that the projects in the area of ​​gas transmission are currently facing a lot of difficulties. "What we can do is keep up the conversations and hope that we can change the situation in the future."

He reminded that there are still a lot of challenges for the Peace Pipeline and its transit through Pakistan.

"We still want to buy oil from Iran after the 180-day deadline for US exemption from its sanctions on Iran, but we need to see how things are going," said the Indian ambassador to Iran on the continuation of the purchase of oil from Iran after the end of the US exemption.