First time in 7 years: India returns to Iranian oil after Trump's green light
India resumes oil imports from Iran (photo: Getty Images)
India has resumed imports of oil and liquefied gas from Iran for the first time in seven years, amid global energy market instability caused by the conflict in the Middle East, CNN reports.
Details of shipments
According to the outlet, India's Ministry of Petroleum and Natural Gas officially confirmed the purchase of Iranian crude. For the past seven years, New Delhi has avoided trade with Tehran, strictly adhering to US sanctions.
In addition to crude oil, India purchased 44,000 metric tons of liquefied petroleum gas (LPG), which is currently being unloaded at the port of Mangalore.
Why India changed course
India's economy is heavily dependent on energy imports, sourcing about 85% of its liquefied gas needs from abroad.
The situation worsened after Iran effectively closed the Strait of Hormuz in response to US-Israeli military strikes, threatening the stability of energy supplies.
This return to Iranian fuel was made possible by a decision from the US President Donald Trump's administration.
Last month, Washington issued Iran a temporary license to sell 140 million barrels of oil at sea to ease global price pressures.
Energy market situation, Iran relations
Previously, media outlets reported on the significance of the Strait of Hormuz and how its blockade by Iran drove up global oil prices, as a large share of the world's fuel exports passed through it.
Earlier, Indian Prime Minister Narendra Modi also held talks with Iranian President Masoud Pezeshkian, where the leaders discussed securing trade routes amid escalating US-Israeli war against Iran.
Alongside resuming cooperation with Iran, India and Russia are restoring LNG supplies for the first time since 2022. The war in the Middle East is pushing New Delhi to explore alternative options to safeguard its energy security.
