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India-Iran Rupee Oil Trade Mechanism by Vicky9000 is a document available to read on EtoBox.

What is India-Iran Rupee Oil Trade Mechanism about?

The document discusses India and Iran setting up a rupee-based payment system for oil imports to avoid using US dollars and circumvent American sanctions on Iran. Under the new mechanism, which will be operational in two months, India will pay for Iranian oil in rupees deposited in an Indian bank. These rupee funds can then be used by Indian exporters to Iran to settle their export payments and facilitate increased trade between the two countries. The arrangement aims to reduce India

Author

Vicky9000

Language

EN