India Could Return To Iranian Crude If U.S. Extends Sanctions Waiver

Indian state-held refiners are considering buying Iranian crude oil if the United States extends the waiver on Iran’s oil sales beyond August or further eases restrictions on that trade. As part of the 14-point memorandum of understanding with Iran, the United States in mid-June authorized the production, delivery, and sale of crude oil, petrochemical products, and refined oil products of Iranian origin through August 21, 2026. The temporary U.S. waiver has opened the door for Iranian oil sales in the Asian region, but refiners are not really…