Iran's largest oil company has had its accounts frozen by a state bank over debt. The Bank of Industry and Mine froze the bank accounts of the National Iranian Oil Company (NIOC).
According to the semi-official Fars news agency, the bank did not provide any details on the amount of debt or the volume of frozen accounts.
The decision was taken despite provisions that allow the National Oil Company, which operates in the oil and natural gas sector—one of Iran's most important revenue sources—to defer some of its debts until the end of the year 1405 (March 2027).
NIOC, the main state-owned company in Iran's oil and gas sector, is also fully listed on the US unilateral sanctions lists.