India imports Iranian oil after 7 years as US moves to block Strait of Hormuz
India has received Iranian oil shipments for the first time in nearly seven years as the US plans to block the Strait of Hormuz. The temporary waiver has raised uncertainty over future imports amid rising global tensions
PTC Web Desk: India has received two large shipments of crude oil from Iran, marking the first such delivery in almost seven years. According to ship tracking data, this development comes just hours before the United States announced strict action against Iranian vessels in the Strait of Hormuz after ceasefire talks between the US and Iran failed in Islamabad.
One of the tankers, named Felicity, has reached Sikka port in Gujarat, while another vessel, Jaya, is stationed near Paradip port in Odisha. Both ships are very large crude carriers (VLCCs), each capable of transporting nearly two million barrels of oil.
These shipments have arrived after the US temporarily relaxed its restrictions, allowing countries like India to import limited quantities of Iranian oil. This step was taken to help control rising global oil prices amid ongoing tensions involving Iran. However, this relief is short-term and is expected to end on April 19, leaving uncertainty over future supplies.
India had stopped buying oil from Iran in 2019 due to pressure from US sanctions. Since then, it shifted to other suppliers. The latest delivery is the first confirmed supply from Iran after that break.
State-run Indian Oil Corporation has bought crude carried by the Jaya, even though the vessel is under US sanctions. Meanwhile, Reliance Industries has also been allowed to import Iranian oil through some older and sanctioned tankers, including the Felicity.
Reports suggest that Felicity loaded oil from Iran’s Kharg Island in March and later reached near Gujarat. The Jaya had picked up its cargo earlier, before the situation between Iran and other countries worsened due to recent military tensions.
In the past, Iran was one of India’s key oil suppliers. In 2018, India imported more than 5 lakh barrels per day from Iran, which made up over 11% of its total crude imports. However, those imports stopped after stricter US sanctions were imposed.
The current one-month relaxation allows the sale of Iranian oil that was already on its way. The aim is to bring some stability to global energy markets. But the situation remains tense, as the US is planning to enforce a blockade in the Strait of Hormuz.
The US military has said the action will apply to ships from all countries entering Iranian ports and nearby waters, including areas in the Arabian Gulf and Gulf of Oman. At the same time, it has clarified that normal passage through the strait for other destinations will not be affected.
Iran has reacted strongly, warning that if its ports are targeted, no location in the Persian Gulf or nearby waters will be safe. The situation has escalated after failed talks, raising concerns about further conflict and pushing oil prices higher worldwide.