Oman to the rescue, asks India to route Iran oil payments through Muscat - Indian Express:
"In a confidential agreement that hopes to get around some of the crippling effects of sanctions, Iran has authorised Oman to collect crude oil payments due to it from buyers, including India, and keep in safe custody.
The pact, called the Memorandum of Understanding on Financial Cooperation and signed in July, also allows Oman to use the funds to finance Iran's import of food, agricultural commodities, medicines and medical devices.
Under the MoU, Iran's oil revenue frozen in foreign banks will be channeled by Oman and transferred to designated accounts agreed upon by the two."
'via Blog this'
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