First Iranian Tankers Deliver Crude to India Since 2019 Sanctions
Two Iranian tankers carrying 4 million barrels of crude oil have arrived in India, marking the first such shipment in seven years. The U.S. granted a sanctions waiver to facilitate the delivery amid global oil shortages caused by the U.S.-Israel and Iran conflict. India, which halted Iranian imports in 2019 due to U.S. sanctions, is now seeking alternative crude sources as Strait of Hormuz closures disrupt supply.
Topics: global oil markets India Iran oil trade Strait of Hormuz U.S. sanctions