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NA377-Sanctions dodge: India to pay gold for Iran oil, China may follow -- RT

 

Sanctions dodge: India to pay gold for Iran oil, China may follow -- RT

  • India has reportedly agreed to pay Tehran in gold for the oil it buys, in a move aimed at protecting Delhi from US-sanctions targeting countries who trade with Iran. China, another buyer of Iranian oil, may follow Delhi's lead. The report, by the Israeli-based news website DEBKAfile, states that Iran and India are negotiating backup alternatives with China and Russia, should the US and EU find a way to block the gold payment mechanism.
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