India refineries eye Iranian oil as US eases sanctions

Shafaq News- New Delhi/ Tehran

Indian refiners are preparing to resume purchases of Iranian oil following a temporary easing of US sanctions, Reuters reported on Saturday, as Asia weighs options to ease a growing energy squeeze.

Three sources in India’s refining sector said companies plan to buy Iranian crude but are awaiting government guidance and clarification from United States authorities on payment terms and conditions.

The move follows a 30-day sanctions waiver issued under President Donald Trump, allowing purchases of Iranian oil already loaded onto vessels as of March 20, with unloading permitted until April 19, according to the Office of Foreign Assets Control (OFAC).

Industry sources said other Asian refiners are also exploring similar purchases, signaling a potential shift in regional supply flows.

Indian refiners, which hold relatively lower crude inventories than some Asian peers, have recently moved to secure alternative supplies, including Russian oil, after the easing of restrictions.

Iran’s oil ministry spokesperson Saman Qadousi said earlier that Tehran does not currently hold floating crude or surplus volumes in global markets, describing US statements as aimed at influencing market sentiment.