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Iran oil exports to India on despite dispute

Dubai: Iran`s oil exports to long-time trading partner India had continued despite a dispute over the method of payment, a top Iranian official has said.

According to a Tehran Times report, Ahmad Qalebani, the head of state National Iranian Oil Company (NIOC) said the two countries were determined to carry on cooperating despite problems agreeing a new payment method, after India said last week it would no longer use a regional clearing house system which had been criticized for being opaque.

"The economic cooperation between Iran and India in this (oil trade) connection is still continuing," Qalebani said.

He, however, Qalebani made no reference to any new arrangement between the two countries, which implied the issue remained unresolved.

Iran`s Deputy Oil Minister Ahmad Khaledi had earlier said that the dispute with India had been settled by changing the currency for trading.

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