India may buy oil from Iran in UAE dirham. India is adopting different ways to continue trade with Iran and now India is trying to make trade with Iran in UAE dirham rather than euro or dollar. The Reserve Bank of India said deals with Iran must be settled outside the Asian Clearing Union (ACU) system, used by central banks of member nations to settle bilateral trades.Analysts predicted talks would be tough and that New Delhi may face a costly bill if it abandons Iranian oil imports. India is the biggest buyer of Iranian crude among ACU members, with state-owned refiners and privately owned Essar Oil taking around 400,000 barrels per day.
