BlockBeats report: On April 4, India’s Ministry of Petroleum stated that Indian refiners have procured Iranian crude oil amid disruptions to supply in the Strait of Hormuz due to the Middle East conflict. As the world’s third-largest oil importer and consumer, India had not received any crude oil shipments from Tehran since May 2019, when it ceased purchases under U.S. pressure. However, supply disruptions caused by the U.S.-Israel war have severely impacted India. Last month, the United States temporarily lifted sanctions on Iranian oil and refined products to alleviate supply shortages. The Indian Ministry of Petroleum stated on social platform X: “Amid disruptions to Middle Eastern supply, Indian refiners have secured their crude oil requirements, including supplies from Iran; and there are no payment barriers to importing Iranian crude.”
The department added that India has secured its entire crude oil demand for the coming months, stating, "India imports crude oil from more than 40 countries, and companies can flexibly source crude from various origins and regions based on commercial considerations." India also purchased 44,000 tons of Iranian liquefied petroleum gas, transported by a sanctioned vessel. The Petroleum Ministry said the ship docked at the western port of Mangalore on Wednesday and is currently unloading the fuel. (Jin10)