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SUPPLY CUT: US lawmakers see red for Reliance Industries Ltd's ties with Iran.

SUPPLY CUT: US lawmakers see red for Reliance Industries Ltd

US lawmakers want RIL funding stopped for Iran ties

Eight American lawmakers have demanded that the Export-Import Bank of the US immediately suspend all financial assistance to Reliance Industries Ltd (RIL) until it agrees to stop selling gasoline to Iran. The Export Import Bank, or Ex-Im as it is popularly known, has provided two separate loan guarantees worth $900 million, including a $400-million loan by JP Morgan in August. The loan will fund RIL's expansion programmes.

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