In a move aimed to evade sanctions, the government of Iran has written to the Reserve Bank of India (RBI) to allow Parsian Bank, to open a branch in Mumbai to receive rupee payment from Indian buyers of Iranian oil. If RBI approves the proposal, Parsian Bank will become the first Iranian bank to open a branch in India. In February, the US Treasury issued sanctions on government-controlled foreign financial institutions, including foreign central banks, found knowingly conducting or facilitating sale or purchase of Iranian oil. The sanctions take effect on June 28, 2012.