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India resumes Iranian oil & LPG imports
New Delhi: Amid escalating tensions and supply disruptions in the Middle East, India has resumed importing crude oil and LPG from Iran after a seven-year hiatus. The move comes as part of efforts to secure energy supplies during a period of global uncertainty.
The Ministry of Petroleum confirmed on Saturday that Indian companies have procured crude oil from Iran to meet domestic demand. India, the world’s third-largest oil consumer, had halted Iranian oil imports in May 2019 following pressure from the United States and the imposition of sanctions.
However, shifting geopolitical dynamics and wartime conditions have prompted a policy adjustment. The ministry stated via social media that companies have successfully arranged shipments from Iran, with no current hurdles in financial transactions.
This development follows a recent decision by the United States to temporarily ease sanctions on Iranian oil exports to stabilize global supply markets-creating an opening for countries like India to resume purchases.
India sources oil from more than 40 countries, and domestic companies retain full flexibility to choose suppliers based on commercial and operational needs.
In addition to crude oil, India has also imported 44,000 metric tonnes of liquefied petroleum gas (LPG) from Iran. The shipment arrived at Mangalore port earlier this week aboard a vessel previously under sanctions, and unloading operations are currently underway.
The renewed trade marks a significant shift in India’s energy strategy as it navigates evolving global supply challenges.
