The Indian refiner bought the oil from the National Iranian Oil Co., two of the sources ​said. Iranian oil, which ​in recent years has mainly been bought by Chinese independent refiners, ​is often rebranded as originating from another country. The Trump administration on Friday issued a ​30-day sanctions waiver for the purchase of Iranian oil already ​at sea. Other Asian refiners including Indian state firms are making checks to see if they can purchase the oil, several sources have said. However, Asia's top ⁠refiner ​Sinopec does not intend to buy Iranian oil, ​a senior executive at the Chinese state giant said on Monday.

Source: The Telegraph March 24, 2026 12:19 UTC