National Iranian Oil Company

Iran feeling sanctions pain: decry 'economic warfare'

Iran's state finances have come under unprecedented pressure and the resilience of ordinary people is being tested by soaring inflation as oil income plummets due to tightening Western sanctions and sharply falling oil prices.

New sanctions on Iran pose problem for India's oil payments

India currently pays Iran about USD 1 billion every month through Turkey for the 370,000 barrels per day of crude oil it buys from the world's fourth-largest oil producer.

Iran may suspend oil supply to India over payment disputes