Current Affairs - Banking - Discussion

SBI has informed refiners it will not handle payments for crude from Iran from November 2018. Such a move from the SBI would come after US President Donald Trump pulled out of an international nuclear deal with Iran on May 8 and said he would reimpose sanctions within 180 days. Reliance Industries Ltd (RIL), owner of the world's biggest refining complex, plans to halt oil imports from Iran while Rosneft-promoted Nayara Energy has started cutting purchases from this month.