Refiners in India, elsewhere in Asia look to buy Iranian oil after U.S. waives sanctions
The Hindu
Indian and Asian refiners eye Iranian oil purchases as U.S. waives sanctions amid energy crisis linked to the Iran-Israel war.
Refiners plan to resume buying Iranian oil while refiners elsewhere in Asia are examining such a move after Washington temporarily removed sanctions to alleviate an energy crunch caused by the U.S.-Israeli war on Iran, traders said on Saturday (March 21, 2026).
Three Indian refining sources said they will buy Iranian oil and are awaiting government directions and clarity from Washington on details such as payment terms.
Refiners in India, which has much smaller crude stockpiles than other big Asian oil importers, rushed to book Russian oil after the U.S. recently lifted sanctions temporarily. The Indian government could not be immediately reached for comment outside office hours.
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Other Asian refiners are making checks to see if they can purchase the oil, several people with knowledge of the matter said.
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