New Delhi trying to start rupee-rial operations for Chabahar Port

 India’s Shipping Secretary Gopal Krishna said the country is weighing a rupee-rial payment mechanism for the Chabahar project in Iran as it weaves a way around the US’s impending sanctions against Iran from Nov. 4, to kickstart the port that is considered critical to the country’s geopolitical and trade interests. According to The Hindu BusinessLine, Krishna said, “we are trying for a rupee-riyal payment mechanism for Chabahar port project.” “Basically, the guarantees will have to be given in rupees now instead of in dollars or euros,” he added.