Iran Finds a Way to Get Around US Sanctions

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Iran is now getting its payments for oil exports to India via a third party bank to foil US-led efforts to segregate the Islamic republic, according to industry sources. India owes Iran around $5bn for oil supplied by Tehran and both nations were struggling to find methods to make the transactions after Reserved Bank of India blocked a clearing mechanism amid US pressure. Iranian Deputy Foreign Minister Syed Amir Mansour Borghei confirmed on Monday that the payment dispute over crude supplies with New Delhi has been resolved.

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