State-run lender gives up India-Iran debt mediation

State-run lender gives up India-Iran debt mediation

ISTANBUL - Reuters
State-run lender gives up India-Iran debt mediation

Turkey’s Halkbank has refused to open an account for BPCL, sources claim. DAILY NEWS photo, Hasan ALTINIŞIK

Halkbank has refused to open an account for Indian oil company Bharat Petroleum (BPCL) because the company wants to use the account to make oil payments to Iran.

Since last year, India has been looking for a way to make payments to Iran, India’s second largest oil supplier.

The Central Bank of India froze the system responsible for processing trade-related payments between India and Iran, pleasing the United States.

India had been using Halkbank to pay Iran, but U.S. pressure on Turkey led to the bank halting those transactions as well.

Quark.Models.Entities.Ancestor?.Title?.ToUpperInvariant() Finance Ministry to join high-profile fraud case

Finance Ministry to join high-profile fraud case
LATEST NEWS

  1. Finance Ministry to join high-profile fraud case

    Finance Ministry to join high-profile fraud case

  2. Man detained after firing shots near Israel’s Consulate

    Man detained after firing shots near Israel’s Consulate

  3. Two moderate earthquakes shake country’s eastern, northern cities

    Two moderate earthquakes shake country’s eastern, northern cities

  4. Erdoğan, Bahçeli hold closed-door meeting in Ankara

    Erdoğan, Bahçeli hold closed-door meeting in Ankara

  5. Turkish banks’ prospects improve, says Fitch in a report

    Turkish banks’ prospects improve, says Fitch in a report
Recommended
Turkish banks’ prospects improve, says Fitch in a report

Turkish banks’ prospects improve, says Fitch in a report
Şimşek vows to continue implementing economic program

Şimşek vows to continue implementing economic program
Türkiye, UK hold new round of tourism cooperation meeting

Türkiye, UK hold new round of tourism cooperation meeting

Lebanon economic losses top $5 billion in year of clashes

Lebanon economic losses top $5 billion in year of clashes
TikTok makes AI driven ad tool available globally

TikTok makes AI driven ad tool available globally
Japanese growth slows as new PM readies stimulus

Japanese growth slows as new PM readies stimulus
Ankara endorses declaration to triple nuclear energy by 2050

Ankara endorses declaration to triple nuclear energy by 2050
WORLD Fire at Spanish nursing home kills at least 10 people

Fire at Spanish nursing home kills at least 10 people

At least 10 people died and others were injured in a blaze at a nursing home near Zaragoza, Spain, before firefighters managed to extinguish the flames, local authorities said on Nov. 15.
ECONOMY Turkish banks’ prospects improve, says Fitch in a report

Turkish banks’ prospects improve, says Fitch in a report

Turkish banks face improved prospects following the recent sovereign rating upgrade, and reduced near-term macroeconomic and financial stability risks are driving reduced financing pressures and renewed investor confidence, Fitch Ratings has said in a new report.
SPORTS Galatasaray stuns Spurs, Fenerbahçe falls in Europa League

Galatasaray stuns Spurs, Fenerbahçe falls in Europa League

Victor Osimhen scored twice as Galatasaray inflicted a first Europa League defeat of the season on Tottenham with a 3-2 victory in Istanbul, while Fenerbahçe suffered a 3-1 loss against AZ Alkmaar on Nov. 7.