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Oil PSUs face supply woes on Iran impasse
timesofindia.29-Dec-2010
Realizing the gravity of the situation, top RBI officials will meet their Iranian counterparts shortly in Mumbai to finalize a panel of banks through which payments can be made. Till 2008, payments under the ACU(Asian Clearing Union) mechanism was done in Greenbacks, but after the US imposed sanctions against Iran, the currency shifted to the euro.
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