Reliance to stop gasoline sales to Iran - report
NEW DELHI (Reuters) - Reliance Industries Ltd has decided to stop gasoline supplies to Iran after fulfilling all contractual obligations, the Business Standard newspaper reported on Wednesday.
The decision came after eight U.S. congressmen wrote to the U.S. Export-Import Bank to suspend all financial assistance to Reliance until it agreed to halt sales to Iran, the newspaper said, without naming its sources.
The move will not impact Reliance's business as sales to Iran were not substantial, the newspaper said.
"As a corporate policy and to maintain business confidentiality, we do not comment on specific transactions," a Reliance spokesman told Reuters.
Reliance last month started up a new refinery in western India, almost doubling company output and creating the world's biggest refining complex just as global oil demand slows.
© Thomson Reuters 2009 All rights reserved
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage






India
US
UK







