Kolkata-based UCO Bank expects its privileged status processing refiners’ payments for Iranian oil shipments to add more than Rs 800 crore ($110 million) to annual earnings, according to chief executive officer Atul Kumar Goel. Indian refiners are required to deposit any money destined for Iran without interest with UCO Bank during periods when US sanctions are in force.
from Times of India https://ift.tt/2BPvK4y
Kolkata-based UCO Bank expects its privileged status processing refiners’ payments for Iranian oil shipments to add more than Rs 800 crore ($110 million) to annual earnings, according to chief executive officer Atul Kumar Goel. Indian refiners are required to deposit any money destined for Iran without interest with UCO Bank during periods when US sanctions are in force. https://ift.tt/eA8V8J February 22, 2019 at 03:07PM https://ift.tt/2hJjhqE
Friday, February 22, 2019
This bank is gaining from US sanctions on Iran
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