India, Iran have worked out oil payment pact, says envoy

February 7, 2012 | Business | Written by

New Delhi, Feb.7: India and Iran have reached an agreement for the payment of oil, said Tehran’s envoy to New Delhi Seyed Mehdi Nabizadeh.

“A mechanism has been worked out between India and Iran for the payment of oil. A part payment in rupees has now been agreed. Gold is not a suitable option for payment,” Nabizadeh said.

Interacting with media here on Tuesday, Nabizadeh said that India also needed to “pay attention to the realities that are being shaped” and said the possibility of a military strike on Iran is very low, and warned that if it did take place, the “whole world can be affected.”

Reacting to the constant U.S. threats to Iran, Nabizadeh said: “The U.S. cannot harm India-Iran ties. Iran has always worked within IAEA norms and framework. Nearly 4000 man hours of inspection has been done by IAEA inspectors.”

He further said that Iran was in total disagreement with a nuclear weapons programme.

“There should not be atomic weapons anywhere in the world,” he said.

He further claimed that Iran did not want the Strait of Hormuz to be shut, but added that in the event of a war, there will be “disruptions”. (ANI)