India, Middle East countries in talks on oil-for-food scheme

Oil Minister Dharmendra Pradhan said that talks at the leadership level are being held between these nations

India is in talks with countries in the Middle East for a scheme under which they can exchange crude oil for food.

India oil minister Dharmendra Pradhan said on Friday that the country is in talks with the UAE and a few more countries for an oil-for-food programme.

He said discussions between these countries are being held at the leadership level.

India, which is the third biggest crude oil consumer in the world, imports almost 80% of its crude oil requirement from overseas, a majority of which is met through shipments from the Middle East nations.