Tolerance.ca
Looking inside ourselves and out at the world
Independent and neutral with regard to all political and religious orientations, Tolerance.ca® aims to promote awareness of the major democratic principles on which tolerance is based.

India Group's Oil-for-steel Deal to Test Iran Sanctions

Essar Group, a $39 billion Indian conglomerate, is looking to tap frozen Iranian oil revenues to pay for its steel exports to Tehran, in a novel attempt to work around Western financial sanctions against the OPEC member state. The National Iranian Oil Company (NIOC) proposed the payment mechanism in August, potentially opening a new way to release oil export proceeds tied up in India under Western sanctions linked to Tehran's disputed nuclear program. According to industry and...

Read complete article
© Voice of America -


Follow us on ...
Facebook Twitter