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India Purchases Iranian Crude for the First Time in Seven Years

India has resumed purchases of Iranian crude oil as ongoing tensions in the Middle East disrupt supply routes, particularly through the Strait of Hormuz, the country’s oil ministry confirmed on Saturday.

The move marks a significant shift, as India—the world’s third-largest importer and consumer of oil—had not taken delivery of shipments from Iran since May 2019. Imports were halted following pressure from the United States to curb purchases of Iranian crude. However, recent disruptions linked to regional conflict have tightened supply, prompting India to diversify its sourcing.

In a statement, the ministry noted that Indian refiners have been able to secure adequate crude supplies, including volumes from Iran, amid the current challenges. It also highlighted that there are no payment-related obstacles associated with these imports.

The development follows a recent decision by the United States to temporarily ease sanctions on Iranian oil and refined products, aimed at stabilising global supply and addressing shortages.

Officials stated that India has already secured sufficient crude oil supplies for the coming months. The country typically sources oil from more than 40 nations, with refiners given the flexibility to choose suppliers based on commercial viability and logistical considerations.

In addition to crude purchases, India has also imported approximately 44,000 metric tons of Iranian liquefied petroleum gas (LPG). The shipment, carried on a sanctioned vessel, recently arrived at the port of Mangalore Port, where the cargo is currently being unloaded.

The renewed engagement with Iranian energy supplies underscores India’s efforts to maintain energy security amid ongoing global and regional uncertainties.

Serendib News
Serendib News
Serendib News is a renowned multicultural web portal with a 17-year commitment to providing free, diverse, and multilingual print newspapers, featuring over 1000 published stories that cater to multicultural communities.

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