04.04.2026 23:23
India has resumed crude oil purchases from Iran after a 7-year hiatus due to tensions in the Middle East and disruptions in the supply flow through the Strait of Hormuz. The Indian Ministry of Petroleum and Natural Gas announced that there are no payment barriers for oil imports from Iran.
It has been reported that India has resumed importing oil from Iran after a 7-year hiatus due to tensions in the Middle East and disruptions in the supply flow through the Strait of Hormuz.
FIRST TIME SINCE 2019
In a statement from the Indian Ministry of Petroleum and Natural Gas, it was noted that the country's refineries meet their crude oil needs from various sources, and in this context, purchases from Iran have resumed. The statement emphasized that there are no obstacles regarding payments for oil imports from Iran. It was highlighted that India sources crude oil from more than 40 countries, and companies have the flexibility to procure oil from different sources and geographies based on commercial assessments.
India had halted oil purchases from this country after the U.S. did not renew the exemptions granted for Iranian oil sanctions in 2019.
LATEST DEVELOPMENTS IN THE STRAIT OF HORMUZ
The pressure created by the Strait of Hormuz on the global energy market continues to serve as a bargaining chip for Iran in the war that began on February 28. The effective closure of the Strait of Hormuz, which facilitates the transportation of oil and liquefied natural gas (LNG) from the Middle East to global markets due to the war between the U.S.-Israel and Iran, has led to a crisis in energy markets. On March 25, the Iranian administration announced that non-hostile countries could pass through the strait. It is known that ships from China, India, and Pakistan have passed through here. Despite Iran's denial, statements from the White House regarding negotiations caused oil prices to sharply decline in Asian markets on Wednesday, March 25. However, with the new month, prices experienced an increase again.
U.S.-ISRAEL ATTACKS ON IRAN
While negotiations between the Tehran and Washington administrations continue, Israel and the U.S. launched a military attack on Iran on February 28. Iran responded with attacks on targets it identified in several regional countries, including Qatar, the United Arab Emirates (UAE), and Bahrain, where U.S. bases are located, in addition to Israel. In the U.S.-Israel attacks, former Iranian leader Ali Khamenei, along with many high-ranking officials, was killed.