India will send a team of officials to Iran on January 17 to explore fresh ways of paying for oil imports even as the US has added fresh sanctions on Tehran, over and above those on its financial sector, to commercially isolate the nation for nuclear enrichment programme.
India is willing to raise the fraction of payment currently made in the rupee and making indirect payments to Iran such as meeting its payment obligation to third countries.
The Indian delegation will comprise representatives of the Reserve Bank of India and officials from the ministries of finance, commerce, petroleum and external affairs.
The Indian delegation will discuss a host of options to resolve the oil payment dispute during the three day visit.