India breaks seven-year import hiatus as first shipment of 600,000 barrels Iranian oil bound for Vadinar
India to import Iranian oil:
Putting an end to seven-year hiatus, a foreign-flagged tanker carrying nearly 6 lakh barrels of Iranian crude is expected to dock at Vadinar in Gujarat's Deendayal Port by April 4.
This would be India's first shipment from Iran since May 2019 when New Delhi halted shipments in view of the tightened sanctions.
Live tracking data shows that a crude oil tanker named Ping Shun, flying the Eswatini flag, is currently heading towards India.
This suggests a change in India’s oil sourcing strategy. Recently, India had gone back to buying discounted Russian oil, which had earlier drawn criticism from former US President Donald Trump. He had accused India of indirectly supporting the Ukraine war by purchasing large amounts of Russian oil and had even warned of heavy tariffs on Indian exports.
Now, India appears to be turning towards Iran again, especially as US-led military actions have disrupted shipping routes through the Strait of Hormuz.
As tensions increased, the main focus has oddly shifted to reopening the Strait of Hormuz—even though it was functioning earlier.
By Wednesday, the situation had worsened, with at least 10 foreign tankers and 18 Indian ships stuck on the western side of the strait. Around half of these vessels are carrying energy supplies meant for India.
- PTC NEWS
