Middle East Economic Survey
VOL. LIV
No 7
14-Feb-2011
IRAN
India Resolves Iranian Oil Payments Issue
On 4 February the State Bank of India (SBI) announced that it has managed to resolve a problem over payments for Iranian crude oil. SBI, which in December stopped utilizing the Asian Clearing Union mechanism to pay for Iranian oil in dollars (MEES, 3/10 January), said that it would be making euro-denominated deposits in the Frankfurt-based Europaisch-Iranische Handelsbank (EIH), also called...
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