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India purchases Iranian oil for the first time in seven years
The Indian Ministry of Petroleum stated on Saturday that Indian refineries have procured Iranian crude oil amid disruptions in the Strait of Hormuz due to the Middle East conflict. As the world's third-largest oil importer and consumer, India has not received crude oil shipments from Tehran since May 2019, having stopped purchasing Iranian crude under U.S. pressure. However, the supply disruptions caused by the war between the U.S. and Israel have severely impacted India.
Last month, the U.S. temporarily lifted sanctions on Iranian oil and petroleum products to alleviate supply shortages. The Indian Ministry of Petroleum stated on social media platform X: "Against the backdrop of disrupted supply in the Middle East, Indian refineries have ensured their crude oil demand, including supplies from Iran; there are no payment obstacles for importing Iranian crude oil."
The ministry added that India has secured all of its crude oil needs for the coming months, "India imports crude oil from over 40 countries, and companies can flexibly procure crude oil from different sources and regions based on commercial considerations." India has also purchased 44,000 tons of Iranian liquefied petroleum gas, which was transported by a sanctioned vessel. The Ministry of Petroleum stated that the ship docked at the western port of Mangalore on Wednesday and is currently unloading fuel.
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