- Tag results for Iran Oil
So far, the 28-nation bloc has not put forward a concrete proposal for making payments to Iran for buying of oil.
China, the largest importer of Iranian oil, is negotiating a similar arrangement.
US sanctions against Iran kick in from November, which will block payment routes.
The United States is reimposing sanctions on Iran following Washington's decision in May to withdraw from a 2015 international deal aimed at curbing Tehran's nuclear programme.
While Washington exerts pressure on other countries to also cut imports from Iran, it is also urging other major producers to raise their output in order not to create too strong of a price hike
The United States and India are engaged in very detailed conversations over Washington's request to completely stop India's oil imports from Iran.
The US delegation is in India as part of the Trump administration's efforts to reach out to countries who are major importers of oil from Iran.
The US State Department announced in June that the US had been pushing its allies to stop oil imports from Iran by November 4.
The Trump administration is pushing countries to cut all imports of Iranian oil from November, when the United States reimposes sanctions against Tehran.
In June, India imported 592,800 barrels per day (bpd) of oil from Iran compared to 705,200 bpd in May, the data showed.
As per sources, India is hoping to hold engagement on this subject with the US within the span of a month but it is unlikely for the US to grant a waiver.
US President Donald Trump had last month pulled out of a landmark nuclear deal and said sanctions will be re-imposed on Iran within 180 days.
The tanker carrying 136,000 tonnes of light crude oil from Iran, has been in flames since colliding with a Hong Kong-registered bulk freighter, 160 nautical miles east of Shanghai on January 6.