Iran’s foreign minister Mohammad Javad Zarif will visit India today (Monday 7 January), at the head of a high-level political and economic delegation to meet and talks with Indian officials for expansion of trade cooperation.

Iran Press/ AsiaDozens of senior CEOs of entrepreneur companies from both private and public sectors will accompany Mohammad Javad Zarif on the 3-day official visit, Iran Press reported.

Zarif and his entourage are scheduled to attend the Iran-India joint economic meeting as well.

Iranian FM will also meet with Indian officials and will participates in a joint trade conference of the two countries.

Develop business cooperation and deepen economic- trade ties is one of the main zarif's agenda in India.

On 28 may 2018 Iran’s top diplomat traveled to India as part of international consultations aimed at discussing continued mutual cooperation with world countries follow US withdrawal from multi-lateral nuclear accord with the Iran.

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On Dec 22, 2018, India’s ambassador to Tehran said his country will continue to import Iranian oil with the help of a new payment mechanism agreed between the two sides.

India, Iran’s second biggest oil customer after China, has been granted a sanctions waiver to import some 300,000 barrels per day of Iranian oil for 180 days, starting from Nov. 5.

India and Iran agreed to use a 50% rupee-based payment and 50% export commodities mechanism in their trade.

The US, following withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May 2018, announced its' intention to reduce Iran's oil exports to zero.

But later the Trump administration was forced to grant waivers to eight countries including India to continue purchasing Iran’s crude oil aimed at preventing an oil price hike. 101/205


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