NEW DELHI: Indian and Iranian officials are meeting this week to discuss how to unlock the first oil payments to Iran since the United States and other world powers eased sanctions last month in exchange for curbs to Tehran’s nuclear programme.
Last month six world powers and Tehran reached an interim deal that provided limited relief to Iran from economic sanctions, opening the way for some oil payments to resume.
The deal is a chance for Iran’s new leadership to revive the country’s economy, plagued with high inflation and a weakened currency since being cut off from the global financial system after sanctions were imposed in 2012.
The West believes Iran is trying to make a nuclear bomb, while the Middle Eastern nation says its nuclear programme is for power generation.
India and Iran are to discuss how to restart oil payments in foreign currencies, including a plan to process partial payments for oil in euros through a Turkish bank, two government sources said.
Reuters
