IMPORT UREA FROM IRAN

[Ritesh Dave]

Dear All,

Greetings from Ritesh Dave !

Kindly inform import of UREA from Iran is allowed to the manufacturer. We want to Import UREA under Advance License. Also, informed import from Iran via UAE is also allowed or not? Certificate of Origin will be Iran and Port of Origin will be UAE.

Whether bank is ready to accept the import documents and payments in INR or Foreign currency are permitted.

Looking forward for the early reply.

Regards,

Ritesh Dave

AI Summary

Banking channels for Iran trade: designated banks process urea imports; rupee mechanism and limited foreign currency settlement available.
Import of urea from Iran to Indian manufacturers is allowed, including via UAE with Iran as the country of origin. Imports under an Advance License are feasible. Trade settlement and documentary processing must occur through designated banks under the rupee mechanism: UCO Bank is primarily authorised to open LCs and accept documents, while IndusInd Bank can also facilitate certain foreign currency settlements. Prepayment through UAE is possible but may not close in IDPMS and may require RBI third party procedures and bank disclosures.