India Begins Purchasing Iranian Oil for the First Time Since 2019
Indian oil refineries have commenced the purchase of Iranian oil for the first time since 2019, a move confirmed by the Ministry of Petroleum and Natural Gas of India, according to international news agency DW.
According to information reported by Ukrinform, Indian oil refineries have started purchasing Iranian oil for the first time since 2019. This news has been confirmed by the Ministry of Petroleum and Natural Gas of India, as reported by the international news agency DW.
In a statement published on the social media platform X, the ministry noted: "In light of supply disruptions in the Middle East, Indian oil refineries have secured the necessary amount of crude oil, including from Iran." This indicates that India is actively seeking new sources of oil supply to meet its fuel needs.
Additionally, the ministry has denied reports that an Iranian tanker changed its course from India to China due to payment issues. "Contrary to widespread rumors, there have been no obstacles to the payment for the import of Iranian oil," emphasized the Indian government, highlighting the stability in financial relations between the two countries.
It is also worth noting that India has received 44,000 tons of Iranian liquefied gas, adding another significant element to the cooperation between these two nations. This step could mark the beginning of a new era in the energy relations between India and Iran, which have been restricted due to international sanctions.
Recall that oil supplies from Iran to India were halted in 2019 due to sanctions imposed by the United States against the Islamic Republic. These sanctions significantly impacted Iran's ability to export its oil, as well as the energy security of countries importing Iranian raw materials.
It is important to mention that on March 20, U.S. Treasury Secretary Scott Bessent announced a temporary suspension of sanctions against Iranian oil loaded onto tankers for one month. This decision was made to curb rising energy prices, which has become a significant factor in the international market.
Thus, the resumption of Iranian oil imports by India may indicate a shift in the country's energy policy, as well as the potential for establishing new economic ties between India and Iran. This could significantly impact the oil market in the region and globally, considering that India is one of the largest oil consumers in the world.
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