{"id":583506,"date":"2026-04-05T09:23:21","date_gmt":"2026-04-05T09:23:21","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/583506\/"},"modified":"2026-04-05T09:23:21","modified_gmt":"2026-04-05T09:23:21","slug":"india-makes-first-iranian-oil-purchase-in-seven-years","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/583506\/","title":{"rendered":"India makes first Iranian oil purchase in seven years"},"content":{"rendered":"<p>People stand in a queue to refill fuel at a gas station in Guwahati, India, on March 26, 2026.<\/p>\n<p>David Talukdar | Anadolu | Getty Images<\/p>\n<p>Indian refiners have purchased Iranian oil amid the Middle \u200bEast conflict that has disrupted supplies through \u200cthe Strait of Hormuz, the oil ministry said on Saturday.<\/p>\n<p>The world&#8217;s third-biggest oil importer and consumer, India has not \u200breceived a cargo from Tehran since May \u200b2019, following U.S. pressure not to buy Iranian \u2060crude, but supply disruptions from the\u00a0<a href=\"https:\/\/www.cnbc.com\/id\/10000297\" rel=\"nofollow noopener\" target=\"_blank\">U.S.-Israel war<\/a>\u00a0have \u200bhit the South Asian nation hard.<\/p>\n<p>&#8220;Amid Middle East \u200bsupply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for \u200bIranian crude imports,&#8221; the oil ministry said on \u200bX.<\/p>\n<p>Last month, the United States temporarily\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/03\/20\/us-issues-30-day-sanctions-waiver-for-sale-of-iranian-oil-at-sea.html\" rel=\"nofollow noopener\" target=\"_blank\">removed sanctions<\/a>\u00a0on Iranian oil \u200cand \u2060refined products to ease supply shortages.<\/p>\n<p>India has secured its full requirements of crude oil for the coming months, the ministry added.<\/p>\n<p>&#8220;India imports crude oil from \u200b40-plus countries, \u200bwith companies \u2060having full flexibility to source oil from different sources and geographies based on \u200bcommercial considerations.&#8221;<\/p>\n<p>India has also bought 44,000 metric \u200btons \u2060of Iranian liquefied petroleum gas loaded on a sanctioned vessel. The ministry said the vessel, which berthed at \u2060the \u200bwestern port of Mangalore on \u200bWednesday, is discharging the fuel.<\/p>\n<p><a href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.cnbc.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"People stand in a queue to refill fuel at a gas station in Guwahati, India, on March 26,&hellip;\n","protected":false},"author":2,"featured_media":583507,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[221201,45,161,49,48,46,4717,1799,195739,5897,195736,27132,772,195735],"class_list":{"0":"post-583506","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-lco26m","9":"tag-business","10":"tag-business-news","11":"tag-ca","12":"tag-canada","13":"tag-economy","14":"tag-energy","15":"tag-india","16":"tag-invesco-db-oil-fund","17":"tag-iran","18":"tag-lp","19":"tag-tehran","20":"tag-united-states","21":"tag-united-states-oil-fund"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/583506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=583506"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/583506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/583507"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=583506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=583506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=583506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}