- Reuters•2 months ago
The Reserve Bank of India has capped weekly dollar purchases by oil refiners to pay off their debts to Iran in order to avoid pressure on the rupee, three sources said on Monday. India is one of the biggest buyers of Iranian crude and built up a payments backlog when Iran was under Western sanctions, with its refiners owing about $6.5 billion to Iran. State-run Union Bank of India facilitated the payments.
- Oilprice.com•4 months ago
Indian oil and gas firms this week earmarked large pools of capital in preparation for a massive spending spree on overseas assets
Indian Oil Corporation LimitedNSE
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