January 1, 2019

DONALD WHO?:

India said to hand Iran $637m tax break for oil import deal (MICHAEL BACHNER, 1/01/19, Times of India)

India has reportedly handed Iran a tax break worth hundreds of millions of dollars, effectively green-lighting a crude oil import deal that had thus far been hindered by sweeping US sanctions.

India, one of among eight countries exempted from those sanctions for six months, has moved to pay for the oil in its currency, rupee, since the main banking channels dealing with global currencies are blocked by Washington's measures.

The $1.5 billion crude oil deal was signed on November 2 between India's finance ministry and the National Iranian Oil Company (NIOC), Reuters reported Monday, citing a government order.

Posted by at January 1, 2019 7:59 AM

  

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