Middle East Economic Survey

VOL. LIV

No 1-2

3/10-Jan-2011

IRAN

Iran and India Agree Temporary Measures To Pay For Oil Supplies

Indias Petroleum Secretary S Sundareshan told Indian newspaper Mail Today on 5 January that the recent decision of Indias Reserve Bank to stop clearing its transactions through the Tehran-based Asian Clearing Union (ACU) has not affected the oil trade between the two countries. Mr Sundareshan was quoted as saying that: There has been no disruption in supply since RBI...