An Eswatini-flagged Ping Shun oil tanker is reportedly coming to Gujarat’s Vadinar port from Iran’s Kharg Island. Scroll down to read details.
Published: April 1, 2026 4:34 PM IST
US-Iran Conflict: In a major development surrounding crude oil, India may soon resume its imports from Iran after almost five years. This comes at a time when a tanker carrying almost 600,000 barrels of Iranian oil is reportedly coming toward the Indian state of Gujarat. Furthermore, this is happening during the sensitive times when conflict is ongoing in West Asia, which has led to global supply chain disruptions. In addition, this has raised fresh interest in the ties between Iran and India. The tanker named Ping Shun (Eswatini-flagged) is coming from Iran’s Kharg Island and is likely to reach Gujarat’s Vadinar port around April 4. If the ship reaches India, this may come as a historic moment, as it would become the first crude oil import from Iran since 2019.
When did India stop buying oil from Iran?
India stopped buying oil from Iran in May 2019. This came after the sanctions of the US came into effect, and since then, the trade between the two countries has remained suspended. However, the United States has now given a temporary waiver of 30 days due to the global energy disruptions. This has led to the opening of a small window for imports on a limited basis. The waiver from the US is applicable only to the oil that was loaded before the deadline of April 19.
“The Indo-Iranian oil trade has flickered back to life … this comes at a critical time for Indian refiners facing tightening inventories,” said a Kpler analyst, Sumit Ritolia, as reported by NDTV.
Is the Iranian oil tanker reaching India?
The Eswatini-flagged Ping Shun oil tanker is reportedly moving to the Vadinar port in Gujarat. This houses a major refinery, which is operated by Nayara Energy. In addition, the port acts as a major hub for distribution in other parts of India. However, the final confirmation will come only after the vessel docks.
The prices of crude oil are soaring to prices higher than USD 100 per barrel because of the ongoing West Asia conflict. During this time, cheaper alternatives like Iranian oil may seem appealing.
What are the challenges?
There are many challenges even if the Eswatini-flagged Ping Shun shipment reaches India. It’s because, at present, Iran is excluded from the global SWIFT banking system. This will make the process of making payments extremely difficult. There’s no official confirmation about whether the final buyer of the vessel is India or not.
