About 4 million barrels of Iranian crude reached India this week, ending a seven‑year hiatus. The supertanker Jaya off‑loaded at Paradip on the east coast while the Felicity docked at Sikka on the west, both vessels flagged as U.S.-sanctioned. Indian Oil Corp. and Reliance Industries are among the refiners handling the cargoes, with the ships slated to leave by Friday.

Washington granted a temporary US waiver that let buyers purchase Iranian and Russian oil to ease price pressures after strikes on Iran in February. That exemption expires this weekend, prompting India to rush the shipments before the grace period ends. The country, heavily dependent on imports, has already pivoted from Russian barrels and now faces tighter critical financing constraints on Iranian cargoes.

A third tanker, the Iran‑owned Derya, sits off the west coast loaded from Kharg Island but has not received port orders, likely missing the waiver deadline. The arrivals signal that Indian refiners found a workaround despite sanctions, yet the fleeting window underscores the volatility of supply lines. With the waiver gone, India must secure alternative crude sources today immediately.