Iran said on Monday India’s latest payment balance on crude oil imports from the Islamic state stands at $5bn, the official IRNA news agency quoted the governor of the Central Bank of Iran as saying, according to a Reuters report.
“Payment on oil transactions are [usually] received one or two months after their completion, and consequently there is always a balance of payment standing in favour of Iran,” said Mahmoud Bahmani.
Bahmani made the comment before a number of Iranian economic officials including Economy Minister Shamseddin Hosseini and a senior lawmaker to set the record straight on differing figures quoted by various Iranian government officials on the payment problem between the two countries.
Meanwhile, Saudi is hoping to use the ongoing dispute to sell more of it’s crude to India, as previously reported.
India reportedly owes Iran billions of dollars for oil imported in the months since Indian banks blocked transfers of money to Tehran under pressure from Washington, which suspects Iran of trying to make nuclear weapons.
