Iran warns India of halting oil supplies

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Iran warns India of halting oil supplies

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Iran has seriously warned India to halt crude oil supplies in case of nonpayment.

03 July,2011 05:58 pm

As per detail, Iran has warned if New Delhi failed to pay overdue payments hampered by international sanctions against Tehran, the oil ministry said Sunday.We have seriously warned the Indian side of the possibility to halt oil exports if a solution is not found to clear its arrears, Fars news agency quoted National Iranian Oil Company managing director Ahmad Ghalebani.Irans state-run company, however, said it was working to maintain its trade with India, which as its second largest client after China absorbs about 20 percent of its crude exports.These warnings do not mean supplies have been halted and we have no plans to stop exports to the Indian market, said NIOC director of international affairs Mohsen Ghamsari.India has been struggling for six months to pay Tehran for the oil supplies, through various Asian and European banking channels -- Germany in particular -- which have been successively closed one after another.