Iran oil sanctions waiver: Indian refiners get breather, payment a concern

India was considering paying through Iran's Bank Pasargad. Or, it can opt for partial rupee payment via UCO Bank

Reports of the US giving waiver to India and seven other countries from Iran oil sanctions come as a relief for the Indian refiners struggling because of the high crude oil price.
 
Both state-run Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL) have indicated that the companies will go ahead with Iran imports, if India gets waiver from the Donald Trump administration.
 
“We are hopeful that we will have some option left to continue our imports from Iran. Zero imports from the West Asian major is neither good for India and nor for the world as it