Iran is ready to meet India's energy security needs, its ambassador to India Ali Chegeni was quoted as saying on Friday, as negotiations continue between the world powers and Tehran on the lifting of sanctions against the OPEC member.
Iran used to be the second largest oil supplier to India but New Delhi had to halt imports from Tehran after former U.S. President Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports.
"Rupee-rial trade mechanism can help companies from both the countries to deal with each other directly and avoid third party intermediation costs," Mr. Ali Chegeni was quoted as saying by the Indian facilitation body MVIRDC World Trade Center.
