IBNS-CMEDIA: India has resumed buying crude oil from Iran for the first time since 2019, as escalating tensions in the Middle East disrupt supply routes through the Strait of Hormuz.
The world’s third-largest oil importer had halted Iranian purchases under U.S. pressure, but recent supply shocks have forced refiners to diversify sourcing.
Government confirms supplies secured
In a statement posted on X, the Ministry of Petroleum and Natural Gas said Indian refiners have secured adequate crude supplies, including shipments from Iran.
“Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle,” the ministry said.
US sanctions relief opens door
The move follows a temporary easing of sanctions by the United States government last month, allowing Iranian oil and refined products to re-enter global markets to ease shortages.
Officials added that India has already locked in its crude requirements for the coming months.
India continues to import oil from more than 40 countries, with refiners maintaining flexibility to adjust sourcing based on market conditions and pricing.
In addition to crude, India has also imported 44,000 metric tons of Iranian liquefied petroleum gas (LPG). The cargo arrived aboard a sanctioned vessel that docked at Mangalore Port on Wednesday and is currently being discharged.
