Iran trade: Stakeholders explore non-oil avenue to boost fund flow

Under the India-Iran trade deal, local oil refiners used to import crude oil from the middle east nation and make payments to the designated rupee-account at Uco and IDBI. This was till the time crude oil was in the exempted list of US sanctions. These banks, in turn, use that fund to settle payment to exporters.

from Economy-News-Economic Times https://ift.tt/2CO7dAh