India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told Reuters on Thursday, adding that 50 percent of those payments will be used for exporting items to Tehran.

Fuji Oil, jointly with Showa Shell, has loaded the first Iranian crude oil cargo being lifted by Japanese refiners since the country won a 180-day waiver from the US to import oil from Iran, a Fuji Oil official told S&P Global Platts Monday.