INDIA

India has resumed purchasing crude oil from Iran for the first time since May 2019, marking a significant shift in its energy sourcing strategy. The move comes as global supply chains face disruptions due to ongoing tensions in the Middle East.

The Ministry of Petroleum and Natural Gas confirmed that Indian refiners have secured crude supplies, including from Iran, stating that there are currently no payment hurdles for these imports. The development follows a temporary easing of US sanctions on Iranian oil aimed at stabilising global supply.

India, the world’s third-largest oil importer and consumer, had halted Iranian imports under US pressure in 2019. However, recent disruptions, particularly around the Strait of Hormuz, have prompted a renewed approach to ensure energy security.

In addition to crude oil, India has also imported 44,000 metric tons of Iranian liquefied petroleum gas, which recently arrived at the Mangalore port. Officials said the country has secured sufficient oil supplies for the coming months through diversified sourcing from over 40 countries.