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Iran's oil payments row with India has been resolved
before any interruption in crude exports to its second-biggest customer,
the Iranian oil ministry's website SHANA said on Sunday.
After a successful test payment in euros through Turkey's Halkbank,
Indian refiners are expected to clear over $5 billion of debts built up with Iran during a lengthy US-inspired payment impasse.

"After intensive talks between India and Iran, both sides agreed to
clear the debt promptly," Ahmad Ghalebani, head of the National Iranian
Oil Co (NIOC), told SHANA.

"In the coming days part of India's oil debt will be cleared and the rest will be gradually settled."

There is no ban under US or UN sanctions aimed at Iran's disputed
nuclear programme on buying Iranian crude, but they have hindered
international bank payments to Tehran.

India and Iran have been looking for ways for New Delhi to pay for
some 400,000 barrels per day of Iranian crude, or 12% of India's oil
demand, since the Reserve Bank of India halted a clearing mechanism
under US pressure last December.

Executives at Indian refineries said in late July they had still not
received any crude oil supply notices for August after I... >>>