India news: US waiver clears way for Iran oil purchase
Skip next section Iranian oil back on Indian refiners' radar after US waiver 06/23/2026 June 23, 2026 Iranian oil back on Indian refiners' radar after
Skip next section Iranian oil back on Indian refiners' radar after US waiver 06/23/2026 June 23, 2026 Iranian oil back on Indian refiners' radar after US waiver The United States has temporarily lifted sanctions on Iranian crude oil exports, opening a way for Iranian oil to return to India after years of restrictions.
The Iranian Oil Company has reached out to international oil companies, including Indian refiners, and trading houses to resume commercial ties, Indian newspaper The Indian Express reported, citing trade sources. The development comes as part of the ongoing US-Iran negotiations under which the US issued a temporary 60-day sanctions waiver for Iranian crude oil.
US, Iran announce initial 'peace deal' To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The waiver allows production, delivery, and sale of Iranian oil, petroleum products, and petrochemicals through August 21. The lifting of sanctions on Iranian oil holds significance for India, which was once among the largest importers of Iranian crude before US sanctions forced it to stop buying Tehran's oil in 2019.
Right now, Indian refiners are treading cautiously. Oil-importing companies in India steer clear of oil and gas under US sanctions to avoid the risk of attracting secondary sanctions from Washington.
The BriefWire