The settlement and further plan on payments will involve high-level delegations from both countries. After the sanctions on Iran were lifted by Western powers in Vienna earlier this month, the banking channels were open to large transactions. "...It will take a long time between Iran and India (to settle the dues) because we are good partners and may be part of this money can go to different projects, different purposes," Ansari told PTI in an interview.
India's partnership with Iran has sustained the turbulent period of economic sanctions on the latter. India is the second largest oil importer of oil from Iran, after China.