EghtesadOnline: The European mechanism, known as the Instrument in Support of Trade Exchange (INSTEX), to shield the country’s trade from crippling US sanctions won’t be useful if it does not allow oil sales, Iran’s oil minister said.

EghtesadOnline: Amid uncertainty over's oil import possibilities from Iran after May 2 when the waivers to US sanctions on Iran are withdrawn, India’s state-run IDBI bank has stepped-up efforts in this direction by creating Iran trade processing cells in three Indian cities.