India has purchased crude oil from Iran for the first time in seven years, as supply disruptions in the Middle East threaten global energy markets.
The deal comes amid the ongoing conflict involving the U.S. and Israel, which has disrupted shipments through the Strait of Hormuz.
According to India’s Ministry of Petroleum and Natural Gas, refiners have secured Iranian crude without any payment issues, easing fears over energy shortages.
“Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran. India imports crude oil from 40-plus countries, with companies having full flexibility to source oil from different sources and geographies based on commercial considerations,” the ministry said in a statement on X.
India had not received oil from Tehran since May 2019, following U.S. pressure on buyers to avoid Iranian crude. However, the recent war has forced Washington to temporarily lift sanctions on Iranian oil and refined products to ease global shortages.
The shipment is part of a broader effort to ensure India’s energy needs are met over the coming months. The ministry confirmed there were no obstacles in payment, dismissing rumours to the contrary.
India has also imported 44,000 metric tonnes of Iranian liquefied petroleum gas (LPG) on a sanctioned vessel, which arrived at the western port of Mangalore this week.
The country has faced significant domestic challenges due to the global energy crunch. Delays in LPG supply have led to hoarding and illegal sales, with some cylinders being sold at almost double the usual price.
Authorities have acted swiftly, conducting more than 12,000 raids and seizing over 15,000 cylinders to curb profiteering.
The government has urged consumers to avoid panic buying, make use of digital booking platforms, and consider alternative energy options such as piped natural gas or electric and induction cooktops.
Officials also emphasised energy conservation to help manage demand during this turbulent period.
With the Iranian crude now arriving, India says it is confident that its energy supply for the coming months is fully secured, a move that could offer some relief to consumers and industries alike.
Tehran had made plans to strike sites in Ukraine after Kyiv attacked an Iranian cargo ship in the Caspian Sea, a senior Iranian military adviser has s...
More than 800 Afghan families returned from Pakistan and Iran over two days as Afghan authorities continued receiving thousands of people arriving thr...
Japan is carrying out its biggest military buildup since World War II, with Tokyo citing China's expanding military capabilities and increasingly asse...
U.S. President Donald Trump says Iran has a "last chance" to sign what he described as "a good document", claiming talks are continuing at Tehran's request with backing from Saudi Arabia, the UAE and Qatar.
Tehran had made plans to strike sites in Ukraine after Kyiv attacked an Iranian cargo ship in the Caspian Sea, a senior Iranian military adviser has said. Iran refrained from taking action after Kyiv said the strike was a mistake, Mohsen Rezaei told the state IRIB TV channel.
Indonesian rescue teams are searching for 28 people still unaccounted for, three days after a passenger ferry caught fire off the coast of Madura island.
Two firefighting helicopters collided while battling a major wildfire in Greece on Sunday, killing two crew members as emergency services continued efforts to contain fires fuelled by extreme heat and dry conditions across Europe.
Nauru, the world’s third smallest country, has changed its name to Naoero, the Pacific island nation’s President said. The new name corresponds to the spelling and pronunciation in the national language.
More than 800 Afghan families returned from Pakistan and Iran over two days as Afghan authorities continued receiving thousands of people arriving through deportations and voluntary returns from neighbouring countries.
Türkiye has urged Russia and Ukraine to protect civilian shipping in the Black Sea after a drone struck a Turkish-owned cargo ship, reportedly injuring three crew members. Ankara said attacks on commercial vessels risk further destabilising maritime security.
Central Asian countries are adapting their energy strategies as Russia’s fuel sector comes under mounting pressure from Ukrainian drone attacks on oil infrastructure and continuing export restrictions.
Switzerland aims to deepen its economic partnership with Azerbaijan, Foreign Minister Ignazio Cassis said during his first official visit to the country. The trip marks the first stop on his wider tour of Central Asia.
Georgia has unveiled a new funding model for public universities, highlighting the different ways higher education is financed across the South Caucasus. While Georgia, Azerbaijan and Armenia all provide state support, their funding systems differ significantly.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment