New Delhi, April 11 (PTI): Iran today said a dispute with India over payments for its crude oil had been resolved, but there was no official word from New Delhi.

“There had been a problem regarding the payment of purchased oil by India, which was created by the German central bank for another bank involved in the transactions,” Fars news agency quoted Iranian economy and finance minister Shamseddin Hosseini as saying.

“Through negotiations with Indian and German officials the problem was solved,” Hosseini said without giving any details.

However, Indian government officials insisted that a solution was “in the process” of being worked out.

“We are working towards a solution,” an official said.

India in February had started clearing past dues to Iran by making euro payments through German-based Europisch-Iranische Handelsbank AG (EIH Bank). However, EIH, which is owned by Iran, is a banned entity in the US and Washington used its influence on Germany to stop routing payments through the bank.