Middle East Economic Survey


No 13



Indias Essar Confirms Normal Iran Crude Imports Despite Payments Problem

Essar Chief Executive Naresh Nayyar told Reuters on 21 March that despite the problem created by the decision of the Central Bank of India to stop using the Asian Clearing Union to process payments for crude oil imports from Iran, the company has been receiving Iranian crude deliveries as normal. Essar is Indias third largest refiner and has been receiving its...