�Over the coming weeks, an Iranian delegation will travel to India to hold talks with Indian officials over the payment of $6.5 billion oil debts to Iran,� Gholam Reza Ansari was quoted as saying by the Iranian media.
The Iranian ambassador also noted that Tehran and New Delhi will soon finalize a mechanism to clear oil debts.
Iran sits atop the 11 percent of oil and 18 percent of gas reserves in the world.
India, which imports a total of 4 million barrels per day of oil, is seen as the second biggest client of Iran's crude oil after China.
[caption id="" align="alignnone" width="555"]
File image of an Iranian oil tanker in the Persian Gulf[/caption]The energy-hungry Asian country�s crude imports from Iran were slashed by more than 50% in January-April 2015 to about 220,000 bpd amid rising pressures from the US.
Back in 2012, the United States and its Western allies imposed unilateral sanctions on Iran�s energy sector over the country�s nuclear energy program which closed banking channels for the transfer of oil payments to the country.
Earlier this year India announced that it owes Iran about $8.8 billion for oil imports.
Back in May, Iran�s Government Spokesman Mohammad Baqer Nobakht said the money has been trapped in a bank account under the US-led sanctions regime.
Following the conclusion of nuclear talks between Iran and the P5+1 group of countries, Tehran is now seeking to release much of its oil money which has been blocked overseas.
By Press TV
