US EditionIndia Set to Import First Iranian Oil in 7 Years
The cargo follows a U.S. waiver as India seeks new supply after Middle East disruptions pushed crude prices higher, Reuters reported.
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India is importing crude oil from Iran after a gap of seven years. India hasn't purchased Iranian oil since 2019 due to the US's strict sanctions against Iran. However, recently, the US granted a small exemption on Iranian oil, making Iranian oil imports possible.
India Buys First Iran Oil Cargo Since 2019 as War Curbs Supply
(Bloomberg) — State-owned refiner Indian Oil Corp. has purchased a cargo of Iranian oil which would be the country’s first such delivery since 2019, according to people familiar with the matter, as weeks of war in the Persian Gulf upend the energy trade.
The delivery takes place after a temporary relaxation of the sanctions imposed by the US on Iranian oil and refined products, which is intended to reduce the supply deficit. India is continuing to receive Iranian oil this week, first to purchase in the last seven years, according to the following data of the ships provided by LSEG and Kpler, Reuters. ...
India Set to Import First Iranian Oil in 7 Years
India is expected to receive this week its first cargo of Iranian oil in seven years, after the U.S. last month unsanctioned purchases of Iran's oil already loaded on tankers. The world's third-largest crude oil importer is set to import the cargo in the coming days, according to vessel-tracking data cited by Reuters. Last month, the U.S. issued waivers for the purchase of Russian and Iranian crude on tankers in a desperate attempt to curb the s…
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