After unilaterally withdrawing from the Iranian nuclear deal, the United States launched a series of actions against Iran, including pressure on countries to stop importing crude oil from Iran by November 4. In the face of pressure from “quasi-alliance friends”, India not only verbally stated that it “will not terminate the oil trade with Iran”, but also took practical actions to allow state-owned refineries to import Iranian oil using cruise ships and insurance provided by Tehran.

According to a Reuters report on the 4th, a number of Indian shipping companies, including the Indian National Shipping Company (SCI), had suspended shipping to Iran due to US sanctions. In order to maintain trade relations with Iran in oil, New Delhi allowed state-owned refineries to import Iranian oil through ships owned by Iranian National Cruises.

The report said that after the US exited the Iranian nuclear agreement in May this year, US President Trump ordered the resumption of economic sanctions against Iran and threatened that the US government hopes that all countries including allies will stop importing oil from Iran by November 4. Otherwise, it will face US sanctions, and this time the United States will not give any state immunity.

After the United States issued a warning, India and Turkey took the lead in stating that they would not suspend oil trade with Iran. Sun Yay Sudir, the joint secretary of the International Cooperation Department of the Indian Ministry of Oil and Gas, said on June 27 that “India does not recognize unilateral sanctions and only recognizes sanctions imposed by the United Nations.”

It is reported that Iran is the third largest oil supplier in India after Iraq and Saudi Arabia. The US think tank Eurasian Group said in the report that India is currently buying 700,000 barrels of oil per day from Iran. To meet growing energy needs, India sees oil as an important and strategic resource.