India fails to clear bills, Iran stops oil sale

July 26th, 2011 - 10:42 pm ICT by IANS  

Tehran, July 26 (IANS) Iran has stopped selling crude oil to India as New Delhi is yet to pay around $8 billion to Tehran, a top Iranian official said Tuesday.

“India is indebted $7.9 billion to Iran for the crude it already purchased. Out of the total, $4.8 billion has to be paid now and rest should be paid later,” Majlis Energy Commission Emad Hosseini spokesman told IRNA news agency.

Hosseini said certain groups in his country believe China was the most important partner of Iran as far as oil and gas projects were concerned.

“In my opinion, many options should be on the table and it is not advisable to put emphasis on a single country for selling oil because it would otherwise cause many problems for the country,” he said.

Related Stories

Tags: , , , , , , , , , , , , ,

Posted in Business |