India will transfer Iran the first tranche of $700 million of debt for oil

Almaty. 11 September. Silkroadnews - Indian authorities ordered to transfer to Iran the first tranche of $700 million for oil debt, says Trend.
"The Ministry of Finance issued an order on Wednesday to allocate $700 million to National Iranian Oil Company. The next payment can be issued next month", - says the publication.
Earlier, Deputy Finance Minister of India Rajiv Mehrishi said that India will repay the debt to Iran in hard currency and rupee.
The Ministry of Finance of India demanded oil companies to prepare for Iran $1.4 billion as the price for previously obtained oil.
Since February 2013, Indian companies Mangalore Refinery and Petrochemicals (MRPL) and Essar Oil paid 45% of oil supplies from Iran in rupees through Calcutta UCO Bank. The residue accumulated in anticipation of matching payments mechanism. Last year, Indian companies have paid about three billion dollars in six payments after the start of negotiations on the Iranian nuclear program.
At the same time since then, the debt has grown to $6.5 billion. Of these, Essar Oil debt is $3,34, MRPL - $2,49 billion, and Indian Oil Corp - $581 million.