The comment was in response to a June 19 Reuters story citing sources with knowledge of the matter as saying that India planned to clear some oil payments to Iran through the United Arab Emirates central bank.
According to the sources, the new payment system includes a step in which funds would be routed through the Federal Reserve.
"We can confirm that no US financial institutions, including the US Federal Reserve Bank, will be or have been involved in this payment installment," the spokeswoman
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