India Purchases Iranian Oil for the First Time in Seven Years

BlockBeats News, April 4 – On Saturday, India's Ministry of Petroleum announced that Indian refineries have procured Iranian crude oil amidst disruptions in the Strait of Hormuz caused by Middle Eastern conflicts. As the world's third-largest oil importer and consumer, India had not received crude shipments from Tehran since May 2019, when it ceased purchasing Iranian oil under U.S. pressure. However, supply disruptions triggered by the U.S.-Israel war have severely impacted India. Last month, the U.S. temporarily lifted sanctions on Iranian crude oil and refined products to alleviate supply shortages. India's Ministry of Petroleum stated on social platform X: "Against the backdrop of disrupted Middle Eastern supplies, Indian refineries have secured their crude oil needs, including supplies from Iran; there are no payment obstacles for importing Iranian crude oil." The ministry further added that India has ensured its full crude oil requirements for the coming months: "India imports crude oil from over 40 countries, and companies can flexibly procure oil from various sources and regions based on commercial considerations." Additionally, India purchased 44,000 tons of Iranian liquefied petroleum gas (LPG), which was transported by a sanctioned vessel. The ministry noted that the ship docked at the western port of Mangalore on Wednesday and is currently unloading the fuel. (Jin10)