India Undecided on Buying Unsanctioned Iranian Oil: 'Difficult to Answer Right Now'

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India Undecided on Iranian Oil Purchase Amid Sanctions Easing Talks

US Treasury Secretary Scott Bessent had earlier said that Washington could consider easing sanctions on Iranian oil already in transit, as energy prices climb amid the ongoing conflict in the Middle East.

M

Moneycontrol•20-03-2026, 16:19

India Undecided on Iranian Oil Purchase Amid Sanctions Easing Talks

•India remains undecided on buying Iranian oil if US sanctions on crude at sea are lifted, facing energy shortage concerns.
•Sujata Sharma, Joint Secretary at the Ministry of Petroleum and Natural Gas, stated it's 'difficult to answer right now'.
•US Treasury Secretary Scott Bessent suggested easing sanctions on Iranian oil in transit due to rising energy prices.
•India, heavily reliant on imports, sees potential relief and opportunity in discounted Iranian oil.
•Government assures no shortage of LPG and LNG, with increased domestic production and diversified import basket.

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