India's crude oil import from Iran has been in focus recently after Donald Trump administration asked its allies to stop importing from its adversary.

Government sources told CNBC-TV18 that Narendra Modi government has not taken any final decision yet in this regard and talks with the Oval Office are expected later this month.

However, it's a worrying situation for India and is looking for some kind of waiver as far as sanctions on Iran is concerned.

At the same time, it's learnt that the riyal-rupee mechanism is being looked at for any kind of transactions.

Iran is one of India’s major partner when it comes to oil imports. This mechanism has worked in the past in 2012, when there were sanctions against Iran.

Sources also said there are positive indications as far as India’s engagement with Iran and Afghanistan on Chabahar port is concerned.

US has said this project is not going to be impacted but the pressure on India and other countries continue.

India is also looking at alternate sources to meet the country’s energy needs. The sanctions are likely to kick in from August 6 and then November 4.

First Published:Jul 4, 2018 6:30 PM IST