Tehran has threatened to halt oil supplies to India, if Delhi does not urgently find a way to pay for the already delivered raw materials, the agency Press Trust of India reports.
The National Iranian Oil Company (NIOC) sent a letter to the largest Indian customers, companies Mangalore Refinery and Petrochemicals Ltd and Essar Oil indicating the possible sanctions on June 27.
India is the second largest consumer of Iranian oil after China, accounting for 20% of Iran's oil exports. These supplies provide 12% of the Indian needs.
According to the agency, Iran supplies India with 400 000 barrels of oil on credit from December 2010.
