India and Iran failed to reach a conclusion at the end of their two-day talks on payment mechanism for crude oil imports. The two sides, however, agreed to continue their engagement in the matter.
“The Indian and Iranian sides held detailed and constructive discussions for two days on various options to resolve the payment issues. Both the sides agreed to continue their engagement in the matter,” the finance ministry said in a statement.
Meanwhile, earlier in the day, Iran said it was looking at the alternative payment options. An official said multiple currencies, including rupee, euro and yen, as well as payment on cargo-by-cargo basis, were considered.
