India buys Iranian oil for first time since 2019 as Hormuz disruption hits supply

India has made its first purchase of Iranian oil in seven years, as disruptions in West Asia have affected supplies through the Strait of Hormuz, the oil ministry said on Saturday.

Indian refiners have secured crude supplies, including shipments from Iran, amid the ongoing conflict in the region. The development comes as supply routes have been impacted by the US-Israel war, affecting availability for the South Asian nation.

India, the world’s third-biggest oil importer and consumer, had not received any cargo from Tehran since May 2019. Imports had stopped following U.S. pressure on countries to halt purchases of Iranian crude.

“Amid Middle East supply disruptions, Indian refiners have secured their crude oil requirements, including from Iran; and there is no payment hurdle for Iranian crude imports,” the oil ministry said on X.

The ministry added that India has secured its full crude oil requirements for the coming months despite the ongoing disruption.

“India imports crude oil from 40-plus countries, with companies having full flexibility to source oil from different sources and geographies based on commercial considerations,” it said.

Last month, the United States temporarily removed sanctions on Iranian oil and refined products in order to ease supply shortages.

In addition to crude oil, India has also purchased 44,000 metric tons of Iranian liquefied petroleum gas.

The cargo was loaded on a sanctioned vessel that berthed at the western port of Mangalore on Wednesday and is currently discharging the fuel.

(With inputs from agencies)