India's first purchase of Iranian oil in seven years

ME News message, April 4 (UTC+8). The Indian Ministry of Petroleum said on Saturday that as disruptions from the Middle East conflict have disrupted supplies through the Strait of Hormuz, Indian refineries have purchased Iranian crude oil. As the world’s third-largest oil importer and consumer, India has not received crude oil cargoes from Tehran since May 2019. Previously, it stopped buying Iranian crude oil under pressure from the United States, but the supply interruption caused by the U.S.-Israeli war has dealt a severe blow to India. Last month, the U.S. temporarily lifted sanctions on Iranian oil and petroleum products to ease supply shortages. The Indian Ministry of Petroleum said on the social platform X: “Against the backdrop of disrupted Middle East supplies, Indian refineries have secured their crude oil needs, including supply from Iran; and there are no payment obstacles to importing Iranian crude oil.” The ministry added that India has secured all its crude oil needs for the coming months: “India imports crude oil from more than 40 countries, and companies can flexibly source crude oil from different origins 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)