WANA (Apr 13) – For the first time in seven years, a Very Large Crude Carrier (VLCC) operated by the National Iranian Tanker Company (NITC) has arrived in India, carrying two million barrels of Iranian crude oil.

 

The shipment reached the Sikka refinery, owned by Reliance Industries, following a sanctions waiver issued by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). This marks the first delivery of its kind since 2019, when imports were suspended.

 

Reliance Industries, previously a major buyer of Iranian energy, is the designated importer for this cargo. Industry sources expect several million additional barrels of Iranian crude to be dispatched to India within the coming week.

 

The resumption of oil trade between Tehran and New Delhi after a seven-year hiatus is expected to have significant implications for bilateral economic ties and the global oil market.