India Acknowledges Iranian Oil Purchases

By Rakesh Sharma and Mihir Mishra

Apr 4, 2026 (Bloomberg) —India is buying crude from Iran among other countries in order to navigate the current energy crisis, the country’s oil ministry said, denying payment hurdles were impeding those purchases.

The statement is a rare public recognition of energy ties that India largely abandoned as a result of US sanctions, but has begun to rekindle thanks to the current conflict and a subsequent Washington waiver allowing purchases of seaborne Iranian crude. The refining industry has been grappling with trading, shipping and banking arrangements, as Tehran remains under restrictive sanctions.

“Amid Middle East