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India's External Affairs Minister, Sushma Swaraj, on Monday did not mince words in delivering a sharp rebuke to United States plans for sanctions on trade with Iran, including National Security Adviser John Bolton's threats against third parties like India.

Iranian Foreign Minister Javad Zarif is in New Delhi to discuss the situation following the U.S. rejection of the nuclear accord and to find out about India's position on the matter.

India will reportedly pay for Iranian oil in rupees as the two countries seek to bypass the United States economic pressure on Tehran, industry officials have told the Sputnik news agency.

Iran is the third largest supplier of oil to India, after Iraq and Saudi Arabia.

Swaraj later met with Iranian Foreign Minister Mohammad Javad Zarif.

Trump is also considering new sanctions on Russian Federation, a historic ally and key supplier of arms to India, related to allegations that Vladimir Putin's government interfered in the USA election.

In case Venezuelan dictator Nicolas Maduro and Iranian President Hassan Rouhani were anxious about the next round of sanctions coming their way, they received some good news this week. "Terror and talks can not go together, be it post elections or even before", Swaraj said, reiterating New Delhi's long-standing position on dialogue with Islamabad. There are indications that India would continue doing business with Iran unless the sanctions imposed by the USA are endorsed by the United Nations.

The United States announced earlier this month that was abandoning the 2015 agreement and will by November reinstate tough and far-reaching US sanctions, which were lifted under the deal in exchange for curbs on Iran's nuclear activities.

"Thanks to India status as Iran's political and economic partner in the region, we have organised the meeting with Indian officials in different governmental sectors", Zarif said. "Talks can not happen when the border is hot and the Pakistanis are firing at us regularly", she said.

In a statement, the MEA said both sides "positively assessed the implementation" of decisions taken during the visit of President Rouhani to India. India imported $10.5bn worth of goods, mainly crude oil, and exported commodities worth $2.4bn during that same time period.

The port is being touted as a way for India to establish trade routes that bypass rival Pakistan.

In a meeting with Indian Prime Minister Narendra Modi in New Delhi in February, Iranian President Hassan Rouhani expressed readiness to expand mutual relations in all areas.