NEW DELHI: India's oil minister said on Tuesday his ministry is in touch with the finance ministry to resolve a dispute over how to pay for Iranian oil imports, saying the government was looking at "various ways" to resolve the row.
India has been searching for a permanent method to make payments to Iran for crude oil imports since its central bank scrapped a clearinghouse system in December, under pressure from the United States.
Iran is India's second biggest oil supplier after Saudi Arabia. Iranian supplies to India have not yet been hit.
"Iran has been consistent in supplies to us," Indian Oil Minister S. Jaipal Reddy told reporters.
Separately, speaking on approving Vedanta Resources' up-to $9.6 billion deal to take control of Cairn Energy Plc's India unit, the minister said there was no timeline for the government to make a decision.
Cairn Energy agreed in August to sell a majority stake in Cairn India to Vedanta, but the deal has been delayed due to a dispute over royalty payments by Cairn India's partner, state-run Oil and Natural Gas Corp.
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