India restarts Iran oil imports, ending seven-year freeze

Indian refiners have resumed purchases of Iranian oil as tensions in the Middle East continue to disrupt supply routes through the Strait of Hormuz, the oil ministry announced on April 4.

India, the world’s third-largest oil importer and consumer, had not received any shipments from Tehran since May 2019 due to US pressure to halt Iranian crude imports, but recent disruptions linked to the US-Israel conflict have significantly impacted the country’s supply chain, Reuters reports.

"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 oil ministry said on X.

Last month, Washington temporarily lifted sanctions on Iranian oil and refined products in an effort to stabilise global supply shortages.

The ministry also confirmed that India has secured all of its crude oil needs for the coming months, noting that the country sources oil from more than 40 nations, with companies maintaining full flexibility to choose suppliers based on commercial considerations.

In addition, India has imported 44,000 metric tons of Iranian liquefied petroleum gas, which was transported on a sanctioned vessel. According to the ministry, the ship docked at the western port of Mangalore on April 1 and is currently unloading its cargo.

By Jeyhun Aghazada