India Plans to Pay Five Iran Banks for Oil Purchases
Gas flares burn from pipes aboard an offshore oil platform in the Persian Gulf’s Salman Oil Field, operated by the National Iranian Offshore Oil Co., near Lavan island, Iran. (Photographer: Ali Mohammadi/Bloomberg)

India Plans to Pay Five Iran Banks for Oil Purchases

(Bloomberg) -- India will use escrow accounts of five Iranian banks held with UCO Bank Ltd. to deposit money for oil purchases from the Middle East producer to overcome U.S. sanctions, according to...
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