India resumes oil import from Iran after nearly 7 years

India resumes oil import from Iran after nearly 7 years
Updated on

Summary India had halted oil imports from Iran in 2019 following US sanctions imposed during the first tenure of Donald Trump

NEW DELHI (Web Desk) - India has resumed energy imports from Iran for the first time since 2019, purchasing both crude oil and liquefied petroleum gas (LPG), according to official sources.

As reported by a foreign news outlet, India’s Ministry of Petroleum and Natural Gas has confirmed the development.

Indian refiners recently imported crude oil from Iran, marking the first shipment to reach the country in nearly seven years.

In addition, India purchased 44,000 metric tons of LPG from Iran.

The shipment, carried on an approved tanker, has already docked at Mangalore port, signaling a significant step in the revival of energy trade between the two countries.

India had halted oil imports from Iran in 2019 following US sanctions imposed during the administration of Donald Trump.

Also Read: Iran allows essential goods vessels to its ports via Hormuz strait, Tasnim says

However, recent developments have paved the way for limited resumption.

Last month, the United States introduced temporary easing of sanctions on Iranian oil products in an effort to address global supply shortages and rising energy prices.

This relaxation has enabled India to re-engage in crude oil and gas imports from Iran.

Officials from India’s energy ministry stated that the country’s crude oil requirements are being fully met and that there are no obstacles in making payments for the Iranian imports.