Monday 30 January 2012
India is considering settling payment for oil imports from Iran in rupees
India is considering settling payment for oil imports from Iran in rupees, the Reserve Bank of India deputy governor H.R. Khan said on Monday.
Khan said New Delhi was evaluating different options to settle payment for oil imports from Iran, India's second biggest oil supplier.
"There are different options which are being evaluated. It is a bilateral issue. It cannot be discussed openly," Khan said.Earlier this month Reuters reported that India and Iran have agreed to settle some of their $12 billion annual oil trade in rupees, citing a government source, resorting to the restricted currency after more than a year of payment problems in the face of fresh, tougher U.S. sanctions.
Khan said New Delhi was evaluating different options to settle payment for oil imports from Iran, India's second biggest oil supplier.
"There are different options which are being evaluated. It is a bilateral issue. It cannot be discussed openly," Khan said.Earlier this month Reuters reported that India and Iran have agreed to settle some of their $12 billion annual oil trade in rupees, citing a government source, resorting to the restricted currency after more than a year of payment problems in the face of fresh, tougher U.S. sanctions.
