Skip to content
topics.

Reliance buys 5 million barrels of Iranian crude after US waiver

financeMar 24, 2026

Reliance Industries purchased 5 million barrels of Iranian crude after the United States granted a waiver. This is the first Indian purchase of Iranian oil since 2019. The US waiver allows Indian refiners to import Iranian crude despite sanctions, signaling a policy shift in Washington. The purchase alters energy trade flows, tests US sanctions leverage, and influences global oil prices.

Key Highlights

Reliance bought 5 million barrels of Iranian crude after a US waiver.
This is the first Indian purchase of Iranian oil since 2019.
The deal alters energy flows and tests US sanctions leverage.

Related

Reliance buys 5 million barrels of Iranian crude after US waiverfinanceSEC enforcement chief exits amid scrutiny of market moves tied to Trump weekfinanceLarry Fink warns oil near $150 could trigger global recessionfinanceUS wealth gap hits modern high, top 1% owns 31.7% of wealthfinance