India's central bank to stop clearing Iran oil payments
India's central bank will no longer help facilitate payments for imports of Iranian crude, a statement from the Reserve Bank of India said.
Indian oil imports payments to Iran will have to be settled outside the existing Asian Clearing Union (ACU) mechanism, which involves the central banks of India, Bangladesh, Maldives, Myanmar, Iran, Pakistan, Bhutan, Nepal and Sri Lanka, the bank said in a statement. (Reuters)
