India resumes Iranian oil imports after 7-year pause amid Middle East tensions
India announced on Saturday that it has resumed oil purchases from Iran, the first time in seven years, amid the ongoing conflict in the Middle East, which has disrupted energy supplies around the world, particularly in Asian countries, Anadolu reported.
This is the first public announcement by the South Asian nation since 2019, when it stopped importing oil from Iran after US waivers on the purchase of sanctioned Iranian oil were not renewed for buyers.
“Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for Iranian crude imports,” India’s Ministry of Petroleum and Natural Gas wrote on US social media company X.
The ministry said India imports crude oil from over 40 countries, “with companies having full flexibility to source oil from different sources and geographies based on commercial considerations.”
It added: “India’s crude oil requirements remain fully secured for the coming months.”
Last month, the US waived sanctions on the purchase of Iranian oil for 30 days.
India procures almost 50% of its energy supplies, worth $180 billion in 2024, from the Middle East, according to the latest data available.
The US and Israel on Feb. 28 launched an air offensive on Iran, killing over 1,340 people so far, including then-Supreme Leader Ayatollah Ali Khamenei.
Iran has retaliated with drone and missile strikes targeting Israel, along with Jordan, Iraq, and Gulf countries hosting US military assets, causing casualties and damage to infrastructure while disrupting global markets and aviation.
At least 13 US servicemen have been killed and several others wounded during the conflict.
The conflict has driven up energy prices and affected shipping through the Strait of Hormuz, a critical global oil chokepoint, with a significant portion of global oil shipments passing through it.
Earlier, U.S. President Donald Trump stated that Iran has 48 hours left to make a deal or open the Strait of Hormuz.
