The move to resume Iranian energy imports the first purchases since 2019, according to energy intelligence firm Rystad Energy is unlikely to draw immediate ire from Washington, but analysts say it underscores New Delhi’s attempt to rebalance ties with Tehran.
On Saturday, India’s Ministry of Petroleum and Natural Gas said Indian refiners had secured crude supplies from more than 40 countries, including Iran, amid disruptions caused by the Middle East conflict.
The ministry denied that refiners faced any payment hurdles for Iranian crude and said a vessel carrying 44,000 metric tons of Iranian liquefied petroleum gas (LPG) had berthed at a southern Indian port.
“It’s a confidence‑building mechanism with Tehran,” Arpit Chaturvedi, South Asia advisor at Teneo, told CNBC in an email, adding that the energy purchases act as an “insurance policy,” signaling that India does not intend to take sides in the conflict.
In return, India “expects cooperation from Iran” to ensure the safe passage of its ships through the Strait of Hormuz in the future, he said.
India, the world’s third‑largest oil importer and second‑largest consumer of LPG, is heavily dependent on supplies transiting the Strait of Hormuz. About 50% of its crude oil and most of its LPG the primary cooking fuel for households and commercial establishments — passes through the strategic waterway.
