Seven years ago, India quietly pulled the plug on one of its biggest oil suppliers.
Not by choice.
By pressure.
This week, that story may be getting a sequel.
Iranian Oil Minister Mohsen Paknejad is landing in New Delhi for talks with the Petroleum Ministry — the highest-level energy huddle between the two countries in years.
And Indian refiners are watching very closely.
Rewind to 2017.
Iran was pumping 27 million tonnes of crude into India — a staggering 12.6% of the entire crude basket.
More than 1 in every 10 barrels burned in India came from Tehran.
The relationship had perks Indian refiners loved:
Then May 2019 happened.
Washington yanked the sanction waivers.
Imports cratered from 24 MMT to just 2 MMT in a single year. Iran's share collapsed to under 1%.
A seven-year freeze began.
In April 2026, something shifted.
India quietly resumed buying Iranian crude after a seven-year gap.
By June, imports had crept up to 73,000 barrels a day — small, but symbolic.
And now the National Iranian Oil Company is back on the phone with Indian refiners and traders, pitching fresh supply deals.
The sanctions sword is still hanging.
Refiners aren't rushing in. They want clarity on:
Meanwhile, Russia has eaten Iran's lunch — and then some. Russian crude now makes up over 30% of India's import bill, hitting record volumes in June.
Iran isn't walking back into an empty room. It's walking into a market Moscow has colonised.
This isn't just about barrels.
It's about India giving itself options in a world where the Strait of Hormuz, US elections, and Russia sanctions can flip overnight.
A full-scale revival? Unlikely in the near term.
A strategic foot in the door? Absolutely.
Because in energy, the country with the most suppliers wins.
And India is done putting all its barrels in one basket.
That's all for now!
