IOC May Partly Pay Pending Oil Dues to Iran This Month

Mumbai: India's top state-owned refiner Indian Oil Corp could pay a part of its oil import dues to Iran as early as this month, a senior company executive said on Thursday. Indian refiners had got approval to pay Iran $1.4 billion in oil dues, Reuters reported earlier, in one of the first signs a nuclear deal with six major world powers is helping Tehran unlock frozen funds. The company's finance director A.K. Sharma told reporters...