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May 20th, 2012 
FAKE NEWS for the Zionist agenda “At this stage, we (Iran and India) managed to resolve the issues regarding money transfer between Iran and India by offering good solutions and despite European and particularly US sanctions,” IRNA quoted Nabizadeh as saying on Sunday.
He added that there exist problems in non-oil trade regarding opening Letters of Credit (LC) but the Central Bank of Iran (CBI) and the Reserve Bank of India (RBI) have held negotiations, which can help remove these obstacles.
Nabizadeh also said India will pay for part of its oil imports from Iran in rupees.
On March 10, Iran and India announced they had signed an agreement regarding Tehran’s oil exports to New Delhi based on which India would pay for 45 percent of its Iranian crude imports in rupees.
Iran supplies 400,000 barrels of oil per day to India which constitutes about 12 percent of the fast-growing Asian giant’s needs.
Indian firms have been struggling for months to pay off the country’s oil debt to Iran due to difficulties caused by international banking sanctions imposed on the Islamic Republic over its nuclear energy program.
The US and some its European allies claim that Iran’s nuclear energy program includes a military aspect and based on this allegation have imposed international as well as unilateral sanctions against Iran to coerce it into abandoning its nuclear energy activities.
Iran rejects such allegations arguing that as a committed member of International Atomic Energy Agency (IAEA) and a signatory to the Non-Proliferation Treaty, it is entitled to the peaceful uses of the nuclear energy.
YH/HGH/MA
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