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India, iran, and germany oil

March 29, 2011

Remember india was Trying to figure out how to pay for the Iranian oil, and it looked like it would be transacted in euros? Well that’s true. And it will be settled through the German central bank.

Berlin: India is set to pay Iran for billions of dollars worth of oil imports by channeling funds to Tehran via the German central bank, a German newspaper report said Monday.

I don’t know what the long term implications of this is, but I’m sure there are some.
http://www.livemint.com/2011/03/28165857/Govt-to-pay-Iran-for-oil-using.html

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