(MENAFN) Two government sources announced that India will give USD15.8 to support the local insurance for refineries using Iranian oil, Teheran Times reported.
The Indian government is trying to promote imports paid for through local currency to decrease pressure on the rupee.
India's current account deficit has expanded in 2012/2013 because oil imports used to be paid for in the dollar. The government tries to maximize procurement from Iran since it now accepts payment in the rupee.
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