Essar Oil, the top Indian buyer of Iranian oil, in June cleared $500 million of a debt owed to Tehran, two sources with direct knowledge of the matter have said.
Tag: Tehran
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Iran offers discounts to India on oil
If India agrees to buy more of its oil Iran has offered discounts on crude oil price and free shipping as well. India has indicated that it may not meet the 11 million tonne oil import target from Iran this year and Tehran is attempting to induce New Delhi to lift more oil.
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Further US sanctions may fail to cut Iran oil sales
Media reports say that the US Congress is set to pass a bill to further squeeze Iran's oil exports - and its nuclear programme - but new sanctions may fail to cut Iran's crude sales. However, Tehran says its nuclear programme is for generating electricity and medical devices.