India is analyzing the payment conditions for the import of Iranian oil in the context of the waivers offered by the USA.

Three sources from Indian refineries have stated that they intend to purchase Iranian oil, awaiting instructions from the government and clarifications from Washington regarding payment conditions. Indian refineries, which have smaller oil reserves compared to other major Asian importers, have recently begun to contract Russian oil after the United States temporarily suspended sanctions.

The Trump administration issued a 30-day waiver for the purchase of Iranian oil already at sea, which applies to oil loaded on any vessel until March 20. Currently, approximately 170 million barrels of Iranian oil are at sea, and Asia relies on the Middle East for 60% of its oil supply. The purchase of Iranian oil is complicated by uncertainties regarding payment methods and sales through intermediaries. Additionally, major buyers of Iranian oil, such as India, South Korea, and Japan, have been affected by the reintroduction of sanctions in 2018.