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India resumes oil imports from Iran after 7 years amid Middle East conflict and supply disruptions.

Market News
06 Apr 2026
CNBC
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Neutral
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India has restarted buying oil and gas from Iran after a seven-year pause due to supply disruptions and rising energy prices caused by the U.S.-Israel conflict with Iran. This move signals India's effort to rebalance relations with Tehran while maintaining energy security, as about half of its crude and most LPG pass through the Strait of Hormuz. India secured crude from over 40 countries, including Iran, and is negotiating safe passage for its ships through the strait. The decision reflects India's pragmatic approach to energy procurement amid geopolitical tensions and its reluctance to join the U.S.-led naval coalition in the region.

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