logo

India purchases Iranian oil for the first time in seven years

By: rootdata|2026/04/04 17:42:01
0
Share
copy

The Indian Ministry of Petroleum stated on Saturday that Indian refineries have procured Iranian crude oil amid disruptions in the Strait of Hormuz due to the Middle East conflict. As the world's third-largest oil importer and consumer, India has not received crude oil shipments from Tehran since May 2019, having stopped purchasing Iranian crude under U.S. pressure. However, the supply disruptions caused by the war between the U.S. and Israel have severely impacted India.

Last month, the U.S. temporarily lifted sanctions on Iranian oil and petroleum products to alleviate supply shortages. The Indian Ministry of Petroleum stated on social media platform X: "Against the backdrop of disrupted supply in the Middle East, Indian refineries have ensured their crude oil demand, including supplies from Iran; there are no payment obstacles for importing Iranian crude oil."

The ministry added that India has secured all of its crude oil needs for the coming months, "India imports crude oil from over 40 countries, and companies can flexibly procure crude oil from different sources and regions based on commercial considerations." India has also purchased 44,000 tons of Iranian liquefied petroleum gas, which was transported by a sanctioned vessel. The Ministry of Petroleum stated that the ship docked at the western port of Mangalore on Wednesday and is currently unloading fuel.

-- Price

--

You may also like

Ray Dalio's new article: The world is entering a war cycle

We are in a world war that will not end in the short term.

IOSG: When Fintech Meets Crypto Native: The Next Decade of Digital Finance

Header: FinTech is increasingly integrating stablecoins and blockchain infrastructure into core products, reshaping the global payment landscape.

They knew in advance that Trump would tweet about a ceasefire, entered with $20k, and exited with $400k.

They turned the war into a compounding investment

The biggest bottleneck in DeFi development

Today, the biggest threat facing DeFi is not just market conditions or liquidity; in terms of security, it also requires more than just preventing code vulnerabilities, because spies may be lurking nearby.

CZ Memoir Released: Reveals a Large Amount of Industry Insider Information, Prompting Intense Rebuttal from Xu Mingxing

As one of the most influential figures in the cryptocurrency industry today, Zhao Changpeng has personally experienced the difficult development journey of Binance and the cryptocurrency industry in its early years, which brings many little-known insider stories and details to this book, adding plen...

a16z: After securities are on the blockchain, why will intermediary institutions be replaced by code?

Writing transactions and settlements into code, the securities market begins to break free from intermediaries.

Popular coins

Latest Crypto News

01:42

The Iranian armed forces announced victory over the US and Israel in the conflict

According to Xinhua News Agency, the Central Headquarters of the Iranian Armed Forces, Khatam al-Anbiya, issued a statement announcing victory in the 40-day resistance war against the United States and Israel, and stated that it is prepared to face a "more intense, longer, and broader war."The state...
01:42

Nick Timiraos: The likelihood of a federal funds rate cut is gradually decreasing

According to Jinshi reports, "the Federal Reserve's mouthpiece" Nick Timiraos stated that even if the conflict never occurs, the possibility of a federal funds rate cut is gradually diminishing. The labor market is performing better than expected, while the pace of inflation decline in terms of PCE ...
01:42

BlackRock's Ethereum staking ETF charges an 18% commission on staking returns

According to Fortune, BlackRock's iShares Staked Ethereum Trust (ticker ETHB) launched today, with a management fee of 0.25% (temporary promotional rate of 0.12%). It also charges an 18% commission on the total staking yield from approximately $318 million in staked ETH, which is shared between Blac...
01:42

The U.S. Treasury Department will issue proposed rules requiring stablecoin issuers to assume anti-money laundering and sanctions compliance obligations

According to CoinDesk, the U.S. Treasury is set to release proposed rules requiring stablecoin issuers to establish standards to combat money laundering and sanctions violations.According to a summary of the proposal obtained by CoinDesk, the Treasury's Financial Crimes Enforcement Network (FinCEN) ...
01:42

Data: In the past 24 hours, the total liquidation across the network reached 655 million USD, with long positions liquidated at 181 million USD and short positions liquidated at 475 million USD

According to Coinglass data, the total liquidation across the network in the past 24 hours was $655 million, with long positions liquidated at $181 million and short positions liquidated at $475 million. Among them, Bitcoin long positions were liquidated at $30.2028 million, Bitcoin short positions ...
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com