India Receives Iranian Oil Shipment After Seven Years

Representational Image.

India has received its first shipment of Iranian crude oil in seven years, according to ship-tracking data, after local refiners utilised a temporary waiver granted by the United States to resume imports from Tehran.

The waiver, issued last month, is set to expire on April 19.

Data shows that two very large crude carriers (VLCCs), each capable of transporting around 2 million barrels of oil, have already reached Indian ports. One vessel has docked at Sikka Port in western India, while another has arrived at a port in Odisha.

India, the world’s third-largest oil importer and consumer, had halted purchases of Iranian oil in May 2019 following US sanctions.

State-run and private refiners have now resumed limited imports under the waiver. The country’s largest refiner has reportedly secured a cargo delivered by one of the vessels, while another major refining company has been permitted to procure oil through several tankers operating under sanctions.

The development signals a temporary shift in India’s energy sourcing strategy amid evolving geopolitical conditions and supply considerations in the global oil market.