Middle East Economic Survey

VOL. LIV

No 4

24-Jan-2011

IRAN

NIOC Continues To Supply India Despite Lack of Progress Over Payment Method

Meetings, which began in Tehran on 15 January, between Indian government officials and the Iranian Ministry of Petroleum to resolve problems over Indias payment of the National Iranian Oil Company (NIOC) for oil supplies have not made tangible progress. The problem arose as a result of a 23 December decision by Indias Reserve Bank to stop utilizing the Asian...