India-Iran talks soon over oil dues - Iran envoy

Reuters

17 July 2015 at 8:29 am

NEW DELHI (Reuters) - Iran will soon begin talks with India on finalising a mechanism to recover more than $6.5 billion in oil dues held by Indian refiners, Iran's envoy to India said on Friday, after Western powers and Tehran clinched a nuclear deal earlier this week. "In the very near future we will exchange delegations to discuss how we can handle these issues," Gholam Reza Ansari told Reuters. He said that the meeting would happen in a "matter of weeks," but that the place and time are yet to be decided. Indian refiners owe Iran about 55 percent of the bill for crude bought since February 2013 after banking channels were shut under pressure from U.S. and European sanctions. (Reporting by Nidhi Verma; Editing by Frank Jack Daniel)

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