India agrees to pay 1.5% on $6.5bn Iran oil dues
India has agreed to pay an interest of 1.5% on the $6.5 billion that refiners like Essar Oil and Mangalore Refinery owe Iran in oil dues, as a "goodwill gesture", a Finance Ministry official said. Iran had reportedly made a demand for the interest, to make up for foreign exchange losses, during Oil Minister Dharmendra Pradhan's visit in April.