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India's oil woes resolved, Iran says

TEHRAN, April 15 (UPI) -- Issues related to payments from New Delhi for Iranian crude were settled following bilateral talks with German officials, an Iranian spokesman said.

New Delhi had moved cash through German bank Europaeisch-Iranische Handelsbank AG to buy oil from Iran, one of the top crude suppliers to India.

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EIH received euros for the Iranian crude only when Indian importers issued notes saying the money wouldn't be used for sanctioned goods. Officials in the U.S. Treasury Department said that wasn't enough and the German bank said recently it stopped the payments.

Iranian Foreign Ministry spokesman Ramin Mehmanparast said there was "no legal problem" with trading crude oil to India despite international economic pressure, Iran's state-funded broadcaster Press TV reports.

"An ambiguity had briefly emerged, but the issue was resolved once specialist meetings were held," he was quoted as saying.

New Delhi, however, suggested it was looking for a different bank to handle the transactions.

The Iranian side would open an account in whatever bank New Delhi chose for the transactions, an official added early this week.

India is getting its crude oil from Iran on credit. India had imported about 12 million barrels of oil per month from Iran.

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