India Resumes Iranian Oil Imports After Seven Years Amid Global Tensions

India is set to receive its first shipment of Iranian oil in seven years, following the U.S. temporary easing of sanctions on Iranian oil amid global supply shortages. The state-run Indian Oil Corporation purchased the cargo, which is now headed to India after initially stopping in China.

After seven years, India is poised to receive Iranian oil as U.S. sanctions are temporarily lifted to counteract supply shortages. Ship tracking data from LSEG and Kpler revealed that the Curacao-flagged vessel Jaya, carrying the crude, was purchased by state-run Indian Oil Corporation.

The vessel first docked in Southeast Asia before proceeding to India. LSEG's data also highlighted another carrier, Jordan, signaling India as its unloading point. This marks the first Iranian oil cargo heading to India since 2019 due to past U.S. pressures.

The recent U.S.-Israel conflict underscores the strategic importance of these purchases. As the third-largest oil consumer, India's decision to resume Iranian oil imports reflects its strategy to stabilize supply chains amidst Middle Eastern geopolitical tensions.

(With inputs from agencies.)