EIN News says, "Iran Says Could Halt Oil Supplies to India in August Iran has threatened to halt oil supplies to India in August as it presses New Delhi to solve a payments dispute that has cast a shadow since December over the two countries' $12 billion annual crude trade. (reuters.com)".
I'm not a big supporter of Iran and from personal experience I have generally found them to be dishonest. However, I am a believer in the rights of private property. If there was a deal whereby India was to buy oil and actually received it and then subsequently welched on payment, Iran has every right to withhold further shipments.
But there may be more than meets the eye. On April 13 (two a half months ago), Iran said that presumably the same dispute had been resolved (http://www.presstv.ir/detail/174553.html). In that description a matter of bank payments and calculations was the subject of controversy. Since the Iranians can be pretty tricky on these matters, it is a matter of conjecture as to whether the Iranians or the Indians are in the right.
The best resolution might be for the Indians to pay what they think is appropriate according to their calculations and find a new supplier for future shipments. It is likely that if they continue to do business with the Iranians, they will continue to have these problems.
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