The Indian refiners will pay for oil from Iran in rupee instead of dollars through the Central Bank Iran, sources told CNBC-TV18, adding that the payments will be done through the Iran's apex bank branch in Mumbai.

With this decision, India is expecting the Iranian oil payment concerns to be eased within the next eight to ten days.

The oil imports from Iran are soon to begin from Chabahar port, the sources said.

These decisions were taken after a detailed discussion at the Empower Committee of which finance minister Arun Jaitley, external affairs minister Sushma Swaraj and transport minister Nitin Gadkari are a part of.

The payments will begin from November 4, when petroleum-related sanctions against the country come into effect, according to a report by The Economic Times.

Like last sanctions, Iran could use the rupee to pay for imports from India. India receives nearly a tenth of its crude supplies from Iran and it is Iran's second-biggest client.

First Published:Sept 20, 2018 9:40 AM IST