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Economy

SBI to stop handling Iran oil payments, imports may be hit

Updated : June 15, 2018 07:39 PM IST

The move by the state-controlled bank, India's biggest, comes after US President Donald Trump pulled out of an international nuclear deal with Iran last month, pledging to reimpose tough sanctions within 180 days.
Some sanctions take effect after a 90-day "wind-down" period ending on Aug. 6, and the rest, notably affecting the petroleum sector, after a 180-day period ending on Nov. 4.
SBI to stop handling Iran oil payments, imports may be hit

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