India is set to resume the purchase of Iranian oil for the first time in seven years.
Operative Information Center-OMM reports that this information was released by Reuters, citing vessel-tracking data.
According to the reports, India is preparing to receive shipments of Iranian crude this week. This strategic move follows a temporary easing of United States sanctions against Iranian oil exports. Sources indicate that ongoing conflicts in the Middle East have caused significant disruptions to oil supplies through the Strait of Hormuz, prompting India to pivot back toward Iranian energy resources to ensure domestic energy security.
Historically, India was one of the largest buyers of Iranian crude before imports were halted in 2019 due to the re-imposition of US sanctions. As the world's third-largest oil consumer, India relies heavily on imports to meet over 80% of its energy needs. The resumption of trade with Tehran is viewed as a move to diversify supply sources and mitigate the impact of rising global energy prices and logistical challenges in traditional shipping routes.
