India’s Temporary Access to Iranian Oil Ends as US Waiver Expires Amid Rising Energy Tensions – Obnews

India’s brief return to importing Iranian crude oil has come to an end after a 30-day waiver granted by the United States expired without renewal. The exemption had allowed New Delhi to resume limited purchases for the first time since 2019, offering short-term relief during a period of global supply uncertainty triggered by disruptions in the Strait of Hormuz.

The waiver, issued in early March following escalating conflict in the region, enabled several shipments of Iranian crude to reach Indian ports. Analysts estimate that about four million barrels arrived during the window, with additional cargoes already en route before the deadline. State-run Indian Oil Corporation was among the key buyers, securing roughly two million barrels in its first purchase from Iran in seven years.

Officials indicated the temporary policy shift was designed to stabilize global energy markets and prevent further increases in fuel prices at a time of heightened geopolitical tension. US authorities described the decision as a stopgap measure, emphasizing that India remains an important energy partner while also encouraging stronger imports of American crude.

The waiver proved particularly significant for India as the country faced pressure on cooking gas supplies. India imports nearly two thirds of its liquefied petroleum gas requirements, and a large portion of those shipments normally travel through the Strait of Hormuz. Continued instability in the corridor has increased risks for tanker movements and complicated supply planning for refiners and distributors.

With the exemption now expired, India is expected to return to its earlier position of avoiding Iranian crude purchases while exploring alternative sources to maintain energy security. Analysts note that although Iran still holds substantial oil reserves at sea that could support short-term revenues, tightening restrictions and ongoing maritime tensions are likely to keep uncertainty high in global energy markets in the months ahead.