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India to trade with Iran in accordance with international laws: Prabhu
Jan 11, 2019

India would like to trade with Iran without violating any international laws, Commerce and Industry Minister Suresh Prabhu said on Thursday.
 
India will not violate any international law and within the framework of international law, we would like to work with Iran in a manner that we can deal with Rupee trade wherein both countries can trade the items of mutual interest.
 
So Iran wants to buy something from India and we want to buy oil, the minister told reporters here.
 
In May last year, US President Donald Trump withdrew from the 2015 nuclear accord with Iran, reimposing economic sanctions against the Persian Gulf nation. Some sanctions took effect from August 6, 2018 while those affecting oil and banking sectors kicked in from November 4.
 
UCO Bank and IDBI Bank have been identified to route the payment as the two have no exposure to the US financial system.
    

The Hindu Businessline

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