India is exploring the possibility of increasing crude-oil imports from Iran, following a recent deal between Tehran and world powers that is expected to ease sanctions on Iranian crude, an Indian official said. While sanctions on Iran’s sales of crude oil are yet to be eased, observers say the deal is likely to lead to a gradual loosening of existing restrictions on dollar-based payments that would enable importers such as India to buy more crude from Iran. India and Iran presently have a barter trade system in place to bypass payment problems caused by the Western sanctions. Under an agreement last year, India pays for about half its crude-oil imports from Iran in Indian rupees instead of U.S. dollars. Indian and Iranian officials had detailed discussions on the possibility of increasing crude-oil imports from Iran, India’s Economic Affairs Secretary Arvind Mayaram told reporters after a meeting with an […]