India Iran oil trade

Indian Refiners Opt for Chinese Yuan in Iranian Oil Payments via ICICI Bank

News Desk4 hours ago4 hours ago04 mins

Indian refiners have reportedly turned to the Chinese yuan for settling payments on Iranian oil imports, utilizing ICICI Bank as a channel to facilitate transactions. This development marks a significant shift in global energy trade practices, reflecting both geopolitical pressures and evolving financial strategies. The move underscores India’s attempt to maintain energy security while navigating…

India’s First Oil Purchase from Iran in 7 Years Marks Strategic Energy Shift

News Desk2 weeks ago2 weeks ago03 mins

India has made its first oil purchase from Iran in seven years, overcoming long-standing payment hurdles that had previously blocked trade between the two nations. This landmark transaction signals a potential reshaping of global energy alliances and highlights India’s determination to diversify its crude supply sources amid fluctuating global markets. Background: Why the Gap of…