Iran General NewsIran says Indian oil funds freed in Germany -agency

Iran says Indian oil funds freed in Germany -agency


Reuters: Iran has secured the release of some funds that India had paid for Iranian oil and that had been frozen in Germany, a news agency reported.

TEHRAN, April 29 (Reuters) – Iran has secured the release of some funds that India had paid for Iranian oil and that had been frozen in Germany, a news agency reported.

“When Iran sells its oil to a country, it should be able to receive the payments,” the Central Bank of Iran’s governor, Mahmoud Bahmani, was quoted as saying by Iran’s semi-official Mehr news agency.

“One of these transactions was related to India, which had to pay for Iran’s oil … but Germany blocked the money. A part of this money which had been blocked, has been released now and the rest will be released in the future,” Bahmani said, without giving further details.

In December, the Reserve Bank of India (RBI) said that oil trade payments to Iran could no longer be settled using a long-standing clearing house system run by regional central banks.

The White House, which wants governments to stop dealing with Iran because of its nuclear programme, praised the move.

Iran already faces sanctions from the United Nations over its nuclear programme, and though the sanctions do not ban purchases of crude oil, Washington has been lobbying governments and companies to stop dealings with Tehran.

Germany agreed in March to help India settle payments to Iran via Hamburg-based Europaeisch-Iranische Handelsbank (EIH, European-Iranian Trade Bank) but later announced that handling the money through the bank had been halted.

The move followed discussions between Chancellor Angela Merkel and the Indian government in which India said it was moving to a new payment method, a German official said earlier this month.

India pays some 9 billion euros ($12.77 billion) a year for purchases of Iranian oil.

The United States, Israel and the European Union suspect Iran is seeking to acquire atomic weapons. The Islamic state denies the allegations and insists its programme is for peaceful energy needs. (Writing by Ramin Mostafavi; Editing by Anthony Barker)

Latest news

Iran’s People Do Not Buy the Regime’s Economic Promises

Right before Ebrahim Raisi, the Iran regime’s president took the office, he and his economic team introduced a 7000-page...

Protests Continue in Iran With “Death to…” Slogans

During the nomination of his cabinet in the Parliament last year, President Ebrahim Raisi spoke about his priority...

Iran: Instances of Systematic Corruption

—Three board members of the Iran Commerce Chamber have paid a 28-billion-rial down payment and 1.94-billion-rial rent of their...

Truth on the Spread of Addiction in Iran and Regime’s Goals

A citizen from Shiraz, who was a victim of the Iranian regime’s criminal policy, has spoken up about the...

Bank Robbery at Tehran’s Most Secure Zone in Bright Daylight

— “Professional robbers stole more than 160 safe boxes” at a branch of the Bank Melli, authorities say. — The...

Iran Regime’s Confessions About Its Weakness

On June 2, during a large-scale operation by the People’s Mojahedin Organization of Iran (PMOI/MEK) supporters in Iran, the...

Must read

Iran names new envoy to Indonesia

Iran Focus: London, May 04 – Iran has appointed...

Repsol, Shell renegotiating Iran gas deal: Repsol company source

AFP: Spain's biggest oil group, Repsol, and British-Dutch peer...

You might also likeRELATED
Recommended to you