Trump's "victory": India began buying oil from Iran

India has started buying oil from Iran for the first time in seven years. This was reported by the Indian Ministry of Petroleum.

According to the agency, the decision is related to violations of the logistics of supplies through the Strait of Hormuz, which arose due to the aggravation of the conflict in the Middle East. At the same time, the Indian Ministry stressed that purchases are carried out without financial difficulties.

"There are no problems with paying for Iranian oil supplies," the report said.

It is also noted that the country has already met its needs for raw materials for the coming months. In addition to crude oil, India also purchased 44 thousand tons of Iranian liquefied petroleum gas (LPG). The cargo was delivered on a vessel under sanctions and arrived at the port of Mangalore on the west coast of the country.

Recall that India, which is the third largest importer and consumer of oil in the world, traditionally diversifies supplies. Currently, it buys oil from more than 40 countries, and public and private companies have flexibility in choosing suppliers depending on commercial conditions. The last time India imported Iranian oil was in May 2019. Then the supplies were stopped under pressure from US sanctions. However, the situation has changed in recent months. Amid the threat of a shortage of raw materials caused by the attack of the United States and Israel on Iran, Washington was forced to ease restrictions on the export of Iranian oil and petroleum products.