New Channels for Iran Payments
India will deposit payments for crude oil imported from Iran into escrow accounts of five of its banks held with state-run UCO Bank Ltd. after the two nations agreed on a payment mechanism to overcome US sanctions.
Iran will use part of the deposit…
India will deposit payments for crude oil imported from Iran into escrow accounts of five of its banks held with state-run UCO Bank Ltd. after the two nations agreed on a payment mechanism to overcome US sanctions.
Iran will use part of the deposits for purchasing essential goods from India and...