"India imports crude oil from 40+ countries, with companies having full flexibility to source oil from different sources and geographies based on commercial considerations," it said. "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, contrary to the rumours being circulated." The cargo would have marked India’s first purchase of Iranian crude since 2019, following a recent US sanctions waiver. "It is reiterated that India's crude oil requirements remain fully secured for the coming months." Of the estimated 95 million barrels of Iranian oil currently at sea, around 51 million barrels could potentially be routed to India.

Source: The Telegraph April 04, 2026 12:55 UTC