US waiver allows Iranian tanker carrying 600,000 barrels to Vadinar
Business
For the first time since 2019, a tanker loaded with 600,000 barrels of Iranian oil is on its way to Gujarat's Vadinar port, expected to arrive April 4.
This comes thanks to a temporary US waiver that's letting more oil flow globally, something many hope will ease recent price hikes and regional tensions.
Indian refineries face Iran's banking hurdles
The US waiver gives Indian refineries a rare chance to consider buying from Iran again, even though payment hurdles remain because Iran is still cut off from global banking systems.
While Iran was once a top oil supplier for India (imports peaked in 2016-17), long-term deals are still tricky due to ongoing geopolitical and financial roadblocks.
For now, it's a small but notable step toward reconnecting old trade ties.