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India Said to Pay in Euros for Iran Oil Due to Rupee Hurdles

India is using euros to clear most of its purchases of Iranian oil through a Turkish bank because of hurdles in making rupee payments, according to three people with knowledge of the transactions.

While some payments have been made in rupees, they are more difficult after India barred Tehran-based Parsian Bank from opening a branch in Mumbai and because the rupee can’t be directly converted overseas to other currencies, the people said, asking not to be identified because the information is confidential.