India in touch with EU over alternative payment mechanism for Iran ...
Iran is India's third largest oil supplier after Iraq and Saudi Arabia/ Using US dollars for oil transaction with Iran will be restricted post November 4 when the US sanctions come into force/ on import of Iranian crude oil loom large, India is engaged with the for an alternative channel for making payments to Tehran for buying petroleum products, sources said on Wednesday. They said the EU has been been telling India that it was in the process of coming out with a payment mechanism as using US dollars for oil transaction will be restricted ...
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