http://www.ndtv.com/article/india/despit...ran-176321
New Delhi: In spite of sanctions by the US and the European Union and Israel linking Tehran to the attack on an Israeli embassy car here, India is set to step up its energy and business ties with Iran, with a commerce ministry team going there shortly to explore new opportunities.
The team is expected to go to Tehran later this month to discuss steps to expand India's trade with Iran, part of a larger strategy to pay for Iranian oil, highly-placed sources told IANS.
Despite the Western sanctions on Iran, India recently sealed a payment mechanism under which Indian companies will pay for 45 percent of their crude oil imports from Iran in rupees.
New Delhi: In spite of sanctions by the US and the European Union and Israel linking Tehran to the attack on an Israeli embassy car here, India is set to step up its energy and business ties with Iran, with a commerce ministry team going there shortly to explore new opportunities.
The team is expected to go to Tehran later this month to discuss steps to expand India's trade with Iran, part of a larger strategy to pay for Iranian oil, highly-placed sources told IANS.
Despite the Western sanctions on Iran, India recently sealed a payment mechanism under which Indian companies will pay for 45 percent of their crude oil imports from Iran in rupees.