India will consider resuming buying Iranian oil based on techno-commercial feasibility, a senior government official said after Washington temporarily removed sanctions to ease pressure on prices that followed the US-Israeli war on Iran.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian Light and Heavy grades due to strong refinery compatibility and favourable commercial terms. Following sanctions tightening in 2018, imports ceased from May 2019, with volumes replaced by Middle Eastern, US and other grades. At peak, Iranian crude accounted for 11.5 per cent of India’s total imports.
At a news briefing on developments in West Asia, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said techno-commercial feasibility will drive the decision on resuming buying Iranian crude.
“It is based on techno-commercial feasibility,” she said.
Over the weekend, the US waived sanctions on the purchase of Iranian oil at sea fo​India will consider resuming buying Iranian oil based on techno-commercial feasibility, a senior government official said after Washington temporarily removed sanctions to ease pressure on prices that followed the US-Israeli war on Iran.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian Light and Heavy grades due to strong refinery compatibility and favourable commercial terms. Following sanctions tightening in 2018, imports ceased from May 2019, with volumes replaced by Middle Eastern, US and other grades. At peak, Iranian crude accounted for 11.5 per cent of India’s total imports.
At a news briefing on developments in West Asia, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, said techno-commercial feasibility will drive the decision on resuming buying Iranian crude.
“It is based on techno-commercial feasibility,” she said.
Over the weekend, the US waived sanctions on the purchase of Iranian oil at sea fo ​Latest News [ SOBAN NEWS: International and National ]
