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With the lifting of sanctions, the payment channels will reopen and Iran is seeking the pending USD 6 billion in euros.
NEW DELHI: Iran has asked Indian refiners such as Essar Oil and Mangalore Refinery and Petrochemicals Ltd (MRPL) to clear its past oil dues amounting to over USD 6 billion in euros within six months.
Also, it wants settlement with India through the Asian Currency Union (ACU) and has written to the Reserve Bank of India (RBI) in this respect, they said.
The pending payments now total to over USD 6 billion which Iran has agreed to receive in installments over the next six months, sources privy to the development said.
The Persian Gulf nation is talking to State Bank of India (SBI) for the purpose and has also opened an account with IDBI.