India pays $4.5 billion oil debts to Iran
Azerbaijan, Baku, August 28 /Trend/
India has paid $4.5 billion oil debts to Iran and it's expected to complete the payment by end of August, Mehr News Agency reported quoting executive director for international affairs at National Iranian Oil Company Mohsen Ghamsari as saying.
"India's refineries oil debt payment reached near $4.2 billion and it's predicted to increase to $5 billion in near future," he said.
He noted by receiving $5 billion India's debt over Iran's oil export will completes by end of August.
Iran's oil export to India reduced by 90,000 barrels of oil per day from July 23 however the Oil Ministry says the reduction is temporary and due to technical problems in India's oil Terminals and not over India's debts.
Despite India's debt, Iran continues to export 400,000 barrels of oil per day worth one billion dollar per month to India.