Business with Iran

In sorting out payments for oil imports from Iran, India has pulled off, so far successfully, a diplomatic and political feat of some finesse. While India’s annual oil import bill of $12.68 billion from Iran is 12 per cent of its total oil imports, the unilateral US and EU sanctions might have hindered India’s payment of the larger part of that bill — about 80 per cent — hitherto made in euros through a Turkish bank. 

Read Full Story>>