Economy
Report: India expected to receive its first shipment of Iranian oil in seven years.

India is preparing to receive its first shipment of Iranian oil in seven years after the United States temporarily eased sanctions on Iranian crude and refined products to address supply shortages, according to ship-tracking data from LSEG and Kpler released on Wednesday. The cargo has been purchased by state-owned Indian Oil Corporation and is being transported by the very large crude carrier Jaya, sailing under the Curacao flag. The vessel is currently heading toward India’s eastern coast and is expected to arrive later this week.
Indian Oil, the country’s largest refiner, did not immediately respond to a request for comment. Tracking data indicates that the Jaya had earlier moved through Southeast Asian waters, with an initial plan to unload in China, before changing course toward India. Another vessel, Jordan, is also signaling India as its destination. India, the world’s third-largest importer and consumer of oil, has not imported crude from Iran since May 2019 due to U.S. pressure. However, ongoing supply disruptions linked to the U.S.-Israel conflict have significantly impacted the country.
India’s oil ministry stated that refiners turned to Iranian crude as tensions in the Middle East disrupted supplies through the Strait of Hormuz, a key route that typically handles around 20 percent of global oil shipments. The ministry also noted that refiners have not faced payment issues related to these purchases. Kpler data shows that Iranian crude stored at sea has reached near-record levels, exceeding 180 million barrels in April.



