Importers of petrochemicals from Iran have resorted to using bank cheques, direct remittance to accounts, escrow accounts and "hawala" transactions used in the Indian subcontinent, to get past the prooblem of banks delaying or declining to honour letters of credit from Iran, as per Platts.
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Wednesday, October 20, 2010
Importers of petrochemicals from Iran find ways around L/C problem
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