Iran Press/Iran news: Heading a high-ranking politico-economic delegation, Mohammad Javad Zarif is scheduled for a three-day visit to India to hold meetings with Indian officials, participate in a joint business forum attended by the businessmen of the two countries, and deliver a speech at the annual Raisina Dialogue conference in New Delhi.
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, Iran Press reported.
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. 105
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Iran's Zarif visits India for expansion of trade cooperation
