India set to get first Iranian oil cargo in 7 years, tracking data shows

NEW DELHI: India is set to receive its first oil from Iran in seven ​years after the U.S. temporarily removed sanctions on Iranian oil ‌and refined products to ease supply shortages, ship tracking data from LSEG and Kpler showed on Wednesday.

State-run Indian Oil Corp purchased the cargo, ​currently on the Curacao-flagged very large crude carrier Jaya, ​which is heading to India's east coast and ⁠is set to arrive later this week, the data showed.

Indian ​Oil, the country's top refiner, did not immediately respond to a ​Reuters email seeking comment.

The Jaya initially went to Southeast Asian waters for discharge in China before heading to India, LSEG ship tracking shows.

LSEG data ​shows another carrier Jordan is signalling India as its ​discharge location.

India, the world's third-biggest oil importer and consumer, has not received a cargo ‌from ⁠Tehran since May 2019, following U.S. pressure not to buy Iranian crude, but supply disruptions from the U.S.-Israel war have hit the South Asian nation hard.

India's oil ministry last week said that ​refiners have purchased ​Iranian oil because ⁠of the Middle East conflict that has disrupted supplies through the Strait of Hormuz, which typically carries ​about 20% of global crude supply.

The ministry also ​said ⁠last week that refiners are not facing any problems with payments for Iranian oil purchases.

Kpler data also shows that Iranian crude oil ⁠on ​water is near record-high levels above ​180 million barrels in April.