India Resumes Iranian Oil Imports After Seven Years
“This is the first public announcement by the South Asian nation since 2019, when it stopped importing oil from Iran after US waivers on the purchase of sanctioned Iranian oil were not renewed for buyers,” reports stated.
“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,” India’s Ministry of Petroleum and Natural Gas wrote on social media. The ministry added that India imports crude from over 40 countries, “with companies having full flexibility to source oil from different sources and geographies based on commercial considerations,” and emphasized that “India’s crude oil requirements remain fully secured for the coming months.”
Last month, the US granted a 30-day waiver allowing the purchase of Iranian oil. India relies on the Middle East for nearly half of its energy imports, valued at $180 billion in 2024.
The announcement comes amid ongoing conflict in the region. A US-Israeli air campaign against Iran began on February 28, killing over 1,340 people, including then-Supreme Leader Ayatollah Ali Khamenei. In retaliation, Iran has launched missile and drone strikes targeting Israel, as well as Jordan, Iraq, and Gulf states hosting US forces, causing casualties, infrastructure damage, and disruptions to global markets and aviation.
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