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January 30, 2012 2:12 pm

India Looking to Avoid Iran Oil Embargo

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Indian PM Manmohan Singh, former President George W. Bush and Brazilian President Lula da Silva. Photo: wiki commons.

WSJ – NEW DELHI – India is considering several options to settle its oil import bills with Iran, including paying in rupees, a top central bank official said Monday, as the South Asian nation maintained its stance of continuing oil trade with Tehran.

“There are different [payment] options which are being evaluated,” Reserve Bank of India Deputy Governor H.R. Khan told reporters in New Delhi, without disclosing the other possible options.

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