The West is putting pressure on countries to make them buy smaller amounts of Iranian oil. It is problematic for China and India to pay for Iranian oil in euros and dollars as there are financial sanctions against Tehran.

China began paying for the oil delivered from Iran in Yuan, Reuters has reported referring to a representative of the Iranian Ministry of Foreign Affairs. Tehran uses this money to pay for Chinese imports. It was reported in February that Iran had also allowed India to pay for up to 45 percent of crude oil in rupees, the Indian national currency. Previously, India had already paid for more than eighty percent of Iranian oil imports in Euros and Dollars.

caspionet