South Korea’s deputy trade minister says the country is planning to boost its crude oil imports from Iran once sanctions against Iran's energy sector are lifted.

India has asked its refineries to stock up on dollar and euro reserves in overseas accounts to avoid a run on the rupee in the event of having to pay back Iran more than $6 billion in outstanding debts, local media reported on Tuesday.

The International Energy Agency says imports of Iranian crude by other countries have reached their highest since sanctions were imposed on Tehran.