# Iran asks India to clear $6.5bn oil dues in 60 days



## Desmond (Aug 21, 2015)

Source: Iran asks India to clear $6.5bn oil dues in 60 days - The Times of India



> NEW DELHI: Iran has asked India to pay within two months $6.5 billion in past oil dues, partly in rupees and rest in dollars or euros, a top official said.
> 
> "The payment will be in at least three installments. The modalities of installments and the route are being worked out," he said.
> 
> ...


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## Vyom (Aug 22, 2015)

I am no economic expert, but that sounds bad news to Indian economics.
Prices to be hiked a lot in recent times? 


Time to do shopping 'now'?


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## NIGHTMARE (Aug 22, 2015)

India is really messing thing up, we neutral relationship with Iran and now these thing. I think this payment due from more than 2 or 3 yr ago


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## Desmond (Aug 22, 2015)

The relationship won't go bad I think as long as we deliver dues.

I wonder how we are going to clear our debt with the World Bank. Last I checked, we owe $172 Billion to the World Bank.


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## amjath (Aug 22, 2015)

^ In tamil we use to "Gandhi Kanaku" [Gandhi ka hisab] debt gone in drain. Are we really paying debts to World Bank


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## $hadow (Aug 23, 2015)

This one surely going to hit the economy. With current currency conversion we might be dealing something pretty bad only if the leaders can find a way to avoid it.


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## KayKashyap (Aug 24, 2015)

AFAIK,.. This is obvious dues and it is due to genuine reason: sanction imposed on Iran from western block. Now the ban is revoked and free trade is resumed with Iran, the dues should obviously be cleared keeping the regular business up and running.
So its the oil companies that have to pay,the oil price wont be affected & even the economy.

also i was reading in some news comments,that this might be a good opportunity for India to have a better relationship with iran.
Correct me if i am wrong.


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## sling-shot (Sep 3, 2015)

The worry probably might be about the sudden forex outgo causing further loss of rupee value against dollar.


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## seamon (Sep 4, 2015)

I am so screwed right now.


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## Desmond (Sep 4, 2015)

seamon said:


> I am so screwed right now.



Do you owe money to Iran?


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