'Indian refiners pay for Iranian oil in rupees'

India, the world's third-biggest oil importer, wants to continue buying oil from Iran as it offers free shipping and an extended credit period, while Iran will use the rupee funds to mostly pay for imports from India. Washington gave a six-month waiver to eight countries, including India, allowing them to import some Iranian oil.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2H08TbH

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