India resumes Iranian oil imports after seven-year hiatus

India is set to receive its first shipment of Iranian crude oil in seven years after the United States temporarily eased sanctions on Iranian oil and refined products to address supply shortages, according to ship-tracking data from LSEG and Kpler released on April 8.

State-run Indian Oil Corporation has purchased the cargo, which is being transported aboard the Curacao-flagged very large crude carrier Jaya. The vessel is en route to India’s east coast and is expected to arrive later this week, the data showed, Caliber.Az reports per foreign media.

India, the world’s third-largest oil importer and consumer, has not received Iranian crude since May 2019, when it halted purchases under pressure from Washington. The recent disruption of supplies linked to the US-Israel conflict and shipping instability in the Strait of Hormuz — a route that typically handles about 20% of global crude flows — has intensified supply concerns for New Delhi.

Ship-tracking data indicate that the Jaya initially moved toward Southeast Asian waters, potentially for discharge in China, before redirecting to India. Another tanker, the Jordan, is also signaling India as its intended discharge destination.

India’s oil ministry said last week that domestic refiners had turned to Iranian crude due to supply constraints stemming from the Middle East conflict. The ministry added that refiners were not encountering payment difficulties related to Iranian purchases.

Separate data from Kpler show that Iranian crude volumes held on water have climbed to near record highs, exceeding 180 million barrels in April, underscoring Tehran’s efforts to sustain exports despite years of sanctions.

By Sabina Mammadli