Iran says oil firms in India can provide oil in the event that they pay in money of their banks. Iran was beforehand the second largest provider of oil to India. India suspended imports from Iran as a part of the sanctions introduced by Trump throughout his presidency of the USA in opposition to Iran.
Importing oil in rupees is worthwhile for India. Iran’s Ambassador to India Ali Chegini has stated that the oil firms of the 2 nations can attain an settlement immediately. This avoids intermediate prices. He stated talks on resuming pure gasoline from Iran to India by a pipeline might resume.
Russia has agreed to produce oil to India at a 25 % low cost. India presently buys oil from Saudi Arabia, the USA and the UAE. It is costly.
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