Official: Iran Continues Supplying Crude to India

TEHRAN (FNA)- An Iranian oil official said that the country's oil exports to India continue on normal track and Iran is now exporting 400,000 barrels of crude oil to India on a daily basis.
"Similar to the previous months, Iran continues to export 400,000 barrels of oil per day to Indian refineries at present," Manager of the National Iranian Oil Company (NIOC) for International Affairs Seyed Mohsen Qamsarri told FNA on Sunday.

Yet, he underlined that the Central Bank of Iran (CBI) is pursuing the case with India's oil debts to Iran.

Earlier, Chief Executive of the Indian energy company Essar Energy PLC Naresh Nayyar announced that Iran has resumed exports of crude to the Indian refinery after the latter settled its accounts.

"Some payments are being made to Iran. Crude supplies from Iran have been restored," said Nayyar.

Iran had halted oil supplies to India on August 1 due to continued overdue payments.

Since December, India and Iran have been struggling to find ways for New Delhi to pay for imports of 400,000 barrels per day, 12 percent of its oil demand, after the Reserve Bank of India halted a clearing mechanism under US pressure.

Earlier reports said that Indian refiners such as Mangalore Refinery and Petrochemicals (MRPL) have opened rupee accounts in the New Delhi branch of Union Bank of India, which will route euro payments to state-owned Turkiye Halk Bankasi (Halkbank) in Istanbul.

Halkbank then transfers that money to the account of NIOC, sources involved in the process said.