India Buys Iran Oil for First Time in Seven Years

**India Resumes Iranian Crude Imports Amid Middle East Supply Turmoil** India’s Ministry of Petroleum announced Saturday that its oil refineries have purchased Iranian crude oil as Middle East turmoil disrupts supplies through the Strait of Hormuz. As the world’s third-largest oil importer and consumer, India had not received Iranian oil shipments since May 2019, when U.S. pressure forced it to halt purchases. Supply disruptions linked to the U.S.-Iran conflict have hit India hard. Last month, the U.S. temporarily lifted sanctions on Iranian oil and petroleum products to ease global shortages. In a post on social platform X, the ministry stated: “Against the backdrop of disrupted Middle East supplies, Indian oil refineries have met their crude oil requirements—including from Iran—and there are no payment barriers for Iranian crude imports.” The ministry added India has secured all crude oil needs for the coming months. “India imports crude from more than 40 countries, and companies can flexibly source from different origins/regions based on commercial considerations,” it noted. India also bought 44,000 tons of Iranian liquefied petroleum gas (LPG) via a sanctioned vessel. The ship docked at the western port of Mangalore on Wednesday and is currently unloading the fuel. *Source: Golden Finance*