(Persia Digest) - The Indian Ambassador to Tehran Gaddam Dharmendra said that his country is in talks with another bank to continue trade transactions with Iran in the face of US sanctions.

Mehr News reports that the Indian government is mulling over cooperation with another bank in addition to India’s UCO Bank for easing trade and economic cooperation between the Islamic Republic of Iran and India, he added.

He made the remarks at his meeting with the Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafe’ei on Monday and proposed bartering goods to overcome banking problems.

Dharmendra pointed to the continuation of cooperation with the Islamic Republic of Iran in relevant areas and said, “for this purpose, Indian embassy in Tehran is after seeking new approaches and methods to broaden and enhance its relations with Iran.”


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He pointed to $14 billion worth of trade volume exchange between Iran and India and emphasized that the two countries enjoy high potentials to increase bilateral trade.

Talks are underway with Iranian officials to use Shahid Beheshti Port for boosting business transaction between Iran and India, he said, adding, “focusing more on Chabahar port and its high capacities can help increase the volume of bilateral trade between the two countries.”

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