India's first purchase of Iranian oil in seven years

ME News message, on April 4 (UTC+8), the Indian Ministry of Petroleum said on Saturday that amid disruptions to Hormuz Strait supply caused by the conflict in the Middle East, Indian refineries have purchased Iranian crude oil. As the world’s third-largest oil importer and consumer, India has not received any shipments of crude oil from Tehran since May 2019. Previously, under pressure from the United States, it stopped buying Iranian crude oil, but supply disruptions triggered by the U.S.-led and Israeli war have hit India severely. Last month, the U.S. temporarily lifted sanctions on Iranian oil and petroleum products to ease shortages. The Indian Ministry of Petroleum said on the social platform X: “Amid disruptions to supplies in the Middle East, Indian refineries have secured their crude oil needs, including supply from Iran; and there are no payment barriers to importing Iranian crude oil.” The ministry added that India has secured all its crude oil demand for the coming months: “India imports crude oil from more than 40 countries, and companies can flexibly procure crude oil from different sources and regions based on business considerations.” India also purchased 44,000 tons of Iranian liquefied petroleum gas, which was transported by a sanctioned vessel. The ministry said the vessel docked at the western port of Mangalore on Wednesday and is currently unloading fuel. (Source: ChainCatcher)