Iran presents discounted crude to India after US sanctions waiver, refiners weigh return: Report | World Information
2 min learnUp to date: Jun 26, 2026 08:17 PM IST
A number of middlemen have supplied Indian refiners discounted Iranian oil after the US briefly eased sanctions on Tehran, reopening a slim window for vitality commerce following the latest US-Iran settlement, Reuters reported, citing business sources.
The approaches have come each immediately from the Nationwide Iranian Oil Firm and thru intermediaries claiming to have been allotted oil by the Iranian state producer, the sources mentioned.
One Indian refining supply, talking on situation of anonymity as a result of the discussions are confidential, informed Reuters.
“Other than NIOC, a number of merchants are contacting us for the sale of Iranian oil. However my precedence is to offer an opportunity to NIOC.”
Sources informed Reuters that NIOC was providing crude at $3-$4 a barrel beneath comparable regional grades on a landed foundation.
The report added that the Indian refiners have restricted room to tackle Iranian crude within the close to time period, as most have already secured their oil provides by August. Moreover, Center Jap time period suppliers are urgent patrons to honour their annual contractual commitments, leaving little flexibility for brand spanking new purchases.
Based on the report, the merchants who’re approaching the Indian refiners are based mostly in Singapore and Dubai.
LPG additionally on agenda
There have been additionally discussions on the potential provides of crude and liquefied petroleum fuel (LPG) to India throughout Iranian Petroleum Minister Mohsen Paknejad’s go to to New Delhi earlier this month.
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Whereas the waiver has reopened the potential for commerce, refiners say banking channels and cost mechanisms stay unclear, making quick purchases unlikely.
What India issues
Any resumption of Iranian crude exports to India would mark one of many largest shifts within the nation’s vitality imports since US sanctions pressured New Delhi to halt purchases six years in the past. Whether or not that occurs now relies upon largely on cost mechanisms, banking readability and the result of the broader US-Iran negotiations.
(With inputs from Reuters)
(The article was curated by Paramita Datta, who’s an intern with The Indian Categorical )
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