India gets first Iranian oil in 7 years, shows ship tracking data
I'm LongbridgeAI, I can summarize articles.India has received its first Iranian oil shipments in seven years, facilitated by a temporary U.S. waiver. Two very large crude carriers, the Iran-flagged Felicity and Curacao-flagged Jaya, have arrived at Indian ports. The waiver, expiring on April 19, allows Indian refiners, including Indian Oil Corp and Reliance Industries, to purchase Iranian oil despite U.S. sanctions. This marks a significant shift as India had not imported Iranian crude since May 2019 due to U.S. pressure.
Two very large crude carriers loaded with Iranian oil have reached Indian ports, ship tracking data from LSEG shows, as local refiners utilise a temporary waiver granted by the United States last month to resume purchases from Tehran for the first time in seven years.
The current waiver is due to expire on April 19.
The Iran-flagged Felicity has reached Sikka Port in western India, while the Curacao-flagged Jaya is at the eastern port of Odisha, the data shows.
A VLCC carries 2 million barrels of oil.
India, the world's third-biggest oil importer and consumer, has not received a cargo from Iran since May 2019 after coming under U.S. pressure not to buy the country's crude.
Indian Oil Corp, the country's top refiner, has bought Iranian oil loaded on the Jaya, a vessel under U.S. sanctions, Reuters reported last week.
India has also allowed Reliance Industries Ltd, the operator of the world's biggest refining complex, to buy Iranian oil loaded on the Comoros-flagged aframax Kaviz, Curacao-flagged VLCC Lenore and Iran-flagged VLCCs Felicity and Hedy, all of which are more than 20 years old and are also under U.S. sanctions.