Reliance Industries Ltd. has sought Indian government approval to import Iranian crude on four vessels, according to a person familiar with the matter, as a key US sanctions waiver nears its April 19 expiry.
The operator of the world’s largest single-site refinery is looking to ensure any purchases remain compliant with US restrictions on Tehran and do not violate Indian laws, the person said, asking not to be identified due to the sensitivity of the discussions.
Indian refiners stepped up purchases of Russian oil after the Trump administration granted waivers that are set to expire this month.
That’s been reflected in the import figures, with about 1.9 million barrels a day of Moscow’s crude arriving in India last month, up from about 1.1 million in February, according to vessel tracking data compiled by Bloomberg.
Still, buying from Iran has seen limited traction, reflecting concerns over suppliers, intermediaries and payment mechanisms tied to sanctions. India hasn’t imported crude from Iran since 2019.
However, the oil ministry said in a post on X earlier this month that India is buying oil and liquefied petroleum gas from Iran.
Supply constraints have deepened after disruptions in the Strait of Hormuz curtailed shipments to India, the world’s third-largest crude importer, forcing refiners including Reliance to seek alternative sources.
The company has previously turned to other producers that were sanctioned earlier. It has secured a US general license to import Venezuelan crude.
Reliance, which accounted for nearly a third of India’s total imports of 1.7 million barrels a day from Russia last year, has seen those volumes plunge after the EU imposed restrictions on fuels made from Russian crude.
India’s shipping ministry has granted special clearance to four tankers — including the Comoros-flagged Kaviz, Curacao-flagged Lenore, and Iran-flagged Felicity and Hedy — to facilitate potential cargoes, Reuters reported earlier Friday.
All four of those ships are sanctioned by the US, according to data compiled by Bloomberg.
More stories like this are available on bloomberg.com
Published on April 11, 2026
Source link
#Reliance #seeks #government #approval #buy #Iranian #crude #oil
