India will receive euros rather than US dollars for the tea it sells to Iran, according to Tea Board of India chairman Basudeb Banerjee, who visited Iran for three days last January.
"In Tehran we met officials of Asian Clearing Union (ACU) headquartered there [and] it was decided that due to payment-related problems, Iranian importers would start dealing in the euro from January 15," Banerjee said.
Iran imports between 11-12 million kg of tea annually.
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