The Iranian Minister of the Economy and Finance, Seyyid Shamsaddin Kusseini, has arrived in India, mojnews.com reports.
Husseini will hand a letter of invitation to Indian Prime Minister Manmohan Singh from Iranian President Mahmoud Ahmadinejad to take part in celebrating Nowruz in Iran on March 28-29.
Husseini will meet the prime minister and the ministers of foreign affairs and the economy of India. They will talk on expanding economic ties.
Trade turnover between India and Iran has reached $14 billion annually. The Indian Central Bank announced that it will not pay for imported Iranian crude oil, which caused major problems in the oil trade between the two countries. Iran was receiving money using the Asia Clearing Unit system.
India purchases 426,000 barrels of oil from Iran daily. Iran says that the payment system remains unclear and that India refuses to cover its debt to Iran, amounting to $1 billion.
