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India and Iran agree to solve imbroglio over oil payment

India and Iran have agreed to put in place a mechanism to resolve the impasse over payment of oil imports from the Gulf nation and to Indian exporters. An Iranian delegation met officials from various Indian ministries in the past two days to resolve the payment problems for imports of oil from the Gulf nation as well as some Indian exporters. The delegation, led by by Central Bank of Iran Vice-governor Seyed Kamal Seyed Ali, held detailed and constructive discussions on the various options for resolving the issues, the finance ministry said today. “Both sides agreed on the mechanism ...