NEW DELHI (Dispatches) - India is looking to revive a rupee trade mechanism to settle part of its oil payments to Iran, fearing channels to pay Tehran might choke under pressure from U.S. sanctions, a government source said on Friday.

President Donald Trump said in early May that the United States would walk away from an international nuclear deal with Iran and impose renewed U.S. economic sanctions on Tehran.

Some sanctions take effect after a 90-day "wind-down" period ending on August 6, and the rest, notably affecting the petroleum sector, after a 180-day period ending on November 4.
And also, India is trying to make Chabahar port in Iran operational by 2019, the government said in a statement on Friday.
The India-backed Chabahar port complex in Iran is being developed as part of a new transportation corridor for land-locked Afghanistan that could potentially open the way for millions of dollars in trade.
The port would offer easy accessibility to CIS countries, transport minster Nitin Gadkari said in the statement.
***India will reportedly pay for Iranian oil in rupees, as the two countries seek to bypass the US economic pressure on Tehran.