Indian refiners plan to resume buying Iranian oil while refiners elsewhere in Asia are examining such a move after Washington temporarily removed sanctions ‌to alleviate an energy crunch caused by the US-Israeli war on Iran, traders told Reuters on Saturday. Three Indian refining sources said they will buy Iranian oil and are awaiting government directions and clarity from Washington on details such as payment terms. ADVERTISEMENTRefiners in India, which has much smaller crude stockpiles than other big Asian oil importers, rushed to book Russian oil after the US recently lifted sanctions temporarily. The Trump administration on Friday issued a 30-day sanctions waiver for the purchase of Iranian oil already at sea, US treasury secretary Scott Bessent said. It is the third time the US has temporarily waived sanctions on oil since the start of the war.

Source: The Telegraph March 22, 2026 02:43 UTC