According to RBI (Reserve Bank of India) deputy governor Mr. H.R. Khan, Our country India is considering settling payment for oil imports from Iran in Indian rupees (INR),
Mr. Khan said, ''India was evaluating different options to settle payment for oil imports from Iran. There are different options which are being evaluated. It is a bilateral issue. It cannot be discussed openly."
Earlier this January (2012) month reported that India & Iran have agreed to settle some of their $ 1,200 crore annual oil trade in rupees. Resorting to the restricted currency after more than a year of payment problems in the face of fresh, tougher U.S. sanctions.
Iran is India's second biggest oil supplier
Mr. Khan said, ''India was evaluating different options to settle payment for oil imports from Iran. There are different options which are being evaluated. It is a bilateral issue. It cannot be discussed openly."
Earlier this January (2012) month reported that India & Iran have agreed to settle some of their $ 1,200 crore annual oil trade in rupees. Resorting to the restricted currency after more than a year of payment problems in the face of fresh, tougher U.S. sanctions.
Iran is India's second biggest oil supplier
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