India wants to pay Iran for oil in rupees

India wants to pay Iran for oil in rupees
00:32 11 Yanvar 2016
Ölkə mətbuatı
A- A+

India’s media reported on Sunday that the country is trying to encourage refiners to settle all outstanding payments to Iran over past oil purchases in rupees. The reported plan flies in the face of an earlier announcement by officials in Tehran that the Islamic Republic wants New Delhi to make settle all unpaid money for oil purchases in euros only, Press TV reported.

The Press Trust of India (PTI) has quoted a senior government official as saying that the country’s Finance Ministry plans to exempt payments to Iran from hefty withholding tax if Tehran approves to receive full payment for oil it sells to India in rupees.

With sanctions against Tehran blocking payment channels, 45 percent of the oil India imports from Iran are settled in rupees since January 2012. The remaining gets accumulated and cleared as and when easing of sanctions opens payment window.

In June last year, Iran agreed to receiving all of the payment in rupees but wanted waiver of 40 percent withholding tax, the PTI added.

India’s Finance Ministry will issue the required waiver, the PTI has quoted the senior government official as saying.

"The Budget for 2012-13 had exempted Indian refiners from paying withholding tax when paying 45 per cent of dues in rupees to Iran. The same benefit will be extended to 100 percent payments made in rupees," the unnamed Indian official has said.

The cabinet approval for exempting payments to National Iranian Oil Company (NIOC) would be sought, the PTI further quoted the official as saying.

Iran may no longer be keen on taking payments in rupee when the option of getting payment in hard tradable currencies like US dollar and Euro is on the verge of opening, the PTI warned.

Indian refineries should pay some $6.5 billion in outstanding oil dues that have been frozen in bank accounts as a result of sanctions against Iran.

Essar Oil has to pay Iran about $3.1 billion, Mangalore Refinery and Petrochemicals Ltd owes $2.8 billion, and Indian Oil Corp owes $581 million. HPCL-Mittal Energy Ltd (HMEL) has to pay $97 million and Hindustan Petroleum Corp owes $29 million, India’s media earlier reported.

Iran said in late December 2015 that it wants India to pay outstanding oil dues in euros, stressing that it needs the euros to pay the installments for the loans it has received for its infrastructure projects.

Hossein Yaqoubi-Miab, the director for international affairs department of the Central Bank of Iran (CBI), said that preparations have already been made by Tehran to receive euro payments from India as soon as the sanctions are lifted.

The landmark nuclear deal reached between Iran and the P5+1 group of countries – the five permanent members of the Security Council plus Germany – has paved the way for releasing Iran’s blocked petrodollars.

India has already started the proceedings to make the outstanding payments to Iran in several installments each valuing at several hundred million dollars.

Yaqoubi-Miab emphasized that once the sanctions are lifted, a large share of the cash for Iran that has been frozen in Indian accounts will be transferred to government accounts in Tehran, Shana reported.

He said Iran wants its assets that have been frozen in Indian accounts to be transferred to Iran immediately after the removal of the sanctions.

Follow us on Twitter @TRENDNewsAgency

RƏYLƏR

OXŞAR XƏBƏRLƏR

BU KATEQORİYADAN DİGƏR XƏBƏRLƏR

Ölkə mətbuatında bugün »

Bakıda QƏTL HADİSƏSİ

24 İyun 2017 09:23

"Sihirli Annem"in ən gözəl qızı ana oldu - FOTO

24 İyun 2017 09:22

Beyləqanda "VAZ" "Mercedes"lə toqquşdu - 1 ölü

24 İyun 2017 09:15

Super Liqa klubunda yeni baş məşqçi

24 İyun 2017 09:12

Ronaldoya şok təklif: açıq çek və...

24 İyun 2017 09:07

Ən uğursuz cihazlar muzeyi açıldı

24 İyun 2017 09:05

Konfederasiyalar Kuboku: Rusiyanın son şansı

24 İyun 2017 09:05

Lerikdə qar uçqunu nəticəsində faciə baş verən ailə üçün yeni ev tikilir

24 İyun 2017 09:01

Everestdə tapılan 10 cəsədin ölümünün sirrləri - FOTOLAR

24 İyun 2017 08:58

“iPhone” satışları artdı

24 İyun 2017 08:57

Goranboyda avtomobil piyadanı vurub

24 İyun 2017 08:52

Mobil rabitə istifadəçilərinin sayı 5 milyardı keçdi

24 İyun 2017 08:52

“Uber”də şok: Kalaniki istefaya məcbur etdilər

24 İyun 2017 08:47

Venesuelada parlamentin binasına hücum: xəsarət alanlar var

24 İyun 2017 08:43

Gürcüstanın baş naziri iftar süfrəsi təşkil edib - FOTO

24 İyun 2017 08:42

Misir prezidenti 500-dən çox məhbusu əfv edib

24 İyun 2017 08:42

Çində torpaq sürüşməsi - 100 nəfər dağıntılar altında qaldı

24 İyun 2017 08:38

Türkiyə XİN-i Pakistanda baş verən terror aktını pisləyib

24 İyun 2017 08:37

1976-cı il tarixli “Apple” kompüteri satıldı

24 İyun 2017 08:37

Bakıda avtomobil yeniyetməni vurub

24 İyun 2017 08:32

Bakıda sürücü piyadanı vuraraq ərazidən qaçıb

24 İyun 2017 08:32

Samsung Galaxy Note 8 gəlir

24 İyun 2017 08:32

Məkkədə teraktın qarşısı alınıb

24 İyun 2017 08:27

Kuryer robot yükü ünvan çatdırdı

24 İyun 2017 08:27

Bakı sakini tanımadığı şəxs tərəfindən bıçaqlanıb

24 İyun 2017 08:22

“Android Market”in sonu çatır

24 İyun 2017 08:22

Oğlanın qulağında yaşayan kəpənək - VİDEO

24 İyun 2017 08:18

Hindistanda Trampın şərəfinə kənd adlandırılıb

24 İyun 2017 08:17

Timati özünün mobil rabitə operatorunu yaradır

24 İyun 2017 08:17

Virus “Honda”nın işini dayandırdı

24 İyun 2017 08:12

Qlobal trafik 71 eksabayta çatacaq

24 İyun 2017 08:12

Hibrid sərnişin dronu hazırlandı

24 İyun 2017 08:05

SOCAR Gürcüstanda yanacagın qiymətini dəyişəcək?

24 İyun 2017 08:05

Pakistanda 2 partlayışda 37 nəfər ölüb

24 İyun 2017 08:05

Formula 1 – Azərbaycan Qran-Prisinin ikinci gününə start verilir

24 İyun 2017 08:01

Mozambikdə 5,8 bal gücündə zəlzələ olub

24 İyun 2017 07:55

Tovuzda piyadanı vurub qaçıb

24 İyun 2017 07:52

BMT eyniləşdirmə sistemi hazırlayıb

24 İyun 2017 07:52

Azərbaycanda qiyabi oxuyanların sayı 2 dəfə azalıb

24 İyun 2017 07:50

DİN-in bazasında qumbara partladı - Ukraynada

24 İyun 2017 07:43

Süni intellekt bitkiləri qoruyacaq

24 İyun 2017 07:42

Bakıda qətl hadisəsi baş verib

24 İyun 2017 07:36

Ağaclardakı 7 otel - FOTO

24 İyun 2017 07:32

LTE GSM-i üstələyəcək

24 İyun 2017 07:32

Əl baqajı üçün skanerlər sınanır

24 İyun 2017 07:27

Bakıda 36 yaşlı kişi avtomobilində bıçaqlanaraq qətlə yetirilib

24 İyun 2017 07:27

Lənkəranda zəlzələ olub

24 İyun 2017 07:27

Məşhur müdafiəçi futbolla vidalaşdı

24 İyun 2017 07:19

DİN: Məkkədə planlaşdırılmış terror aktı ölkədən xaricdə hazırlanıb

24 İyun 2017 07:17

Dronlar divar arxasındakı obyektləri çəkəcək

24 İyun 2017 07:12