India has resumed the purchase of Iranian oil after a multi-year hiatus, occurring against the backdrop of escalating tensions in the Middle East and the blockade of the Hormuz Strait. This move allows the country to diversify its energy supply sources, reducing dependence on traditional suppliers who are currently facing transportation disruptions.
This is reported by Finway
Indian Refineries Receiving Oil from Iran
According to the Ministry of Petroleum and Natural Gas of India, the country’s refineries have secured the necessary volumes of crude oil, including from Iran. The agency emphasized that despite the challenging geopolitical situation and rumors of potential complications with payments, supplies continue as usual.
“In the context of supply disruptions in the Middle East, Indian refineries have ensured they have the necessary amount of crude oil, including from Iran.”
Separately, reports that an Iranian tanker changed its course from India to China due to payment difficulties have been denied. Ministry representatives stressed that all financial transactions related to the import of Iranian oil are proceeding without delays or complications.
Iranian Liquefied Gas and U.S. Sanctions Relief
In addition to crude oil, India has also received 44,000 tons of Iranian liquefied gas. This became possible after a temporary suspension of U.S. sanctions against the export of Iranian oil, announced by the Trump administration to stabilize energy prices. Such restrictions had been in place since 2019, when India stopped purchasing Iranian oil due to sanction pressure on the Islamic Republic.
Experts note that the resumption of trade relations between India and Iran will positively impact the region’s energy security and may contribute to stabilizing global oil prices in challenging geopolitical conditions.