“India Buys Iranian Oil for First Time in 7 Years, Overcoming Payment Barriers”

India Purchases Iranian Oil for First Time in 7 Years Amid Middle East Supply Crunch

India has resumed importing crude oil from Iran for the first time since May 2019, the Ministry of Petroleum and Natural Gas announced on Saturday, citing disruptions to global supply caused by the ongoing conflict in the Middle East.

“Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for Iranian crude imports,” the ministry said on X.

India, the world’s third-largest oil consumer, had previously avoided Iranian oil due to U.S. sanctions. Last month, the United States temporarily lifted sanctions on Iranian oil and refined products to ease global supply pressures, allowing countries like India to resume purchases.

The ministry confirmed that India has now secured its crude requirements for the coming months and emphasized that the country imports oil from over 40 sources, giving refiners flexibility based on commercial considerations. In addition to crude, India has received 44,000 metric tons of Iranian liquefied petroleum gas (LPG) aboard a sanctioned vessel, which docked at the western port of Mangalore on Wednesday and is now offloading its cargo.

The development highlights India’s strategic approach to maintaining energy security amid global supply volatility, balancing commercial needs with evolving geopolitical realities.