India Seeks U.S. Approval For Iranian Oil Imports
Indian officials have asked the U.S. administration to allow New Delhi to import crude oil from Iran and Venezuela as a compensation for scaling down its purchases of Russian oil. The request was presented during meetings held in Washington during the 80th UN General Assembly.
Reason Behind The Plea
India argued that simultaneously cutting off oil supplies from Russia, Iran, and Venezuela could trigger a sharp rise in global oil prices—and severely strain the country’s energy security. New Delhi emphasized that its move to reduce Russian imports should be matched by flexibility on sourcing from other key producers.
Proposed Trade Offset
India further proposed that any increase in crude imports from Iran and Venezuela should act as a “trade offset” to discourage trade with Russia. In doing so, India aims to retain leverage over energy sourcing while responding to Western pressure.
Challenges And Risks
Allowing oil imports from Iran and Venezuela would confront U.S. sanctions regimes, which currently restrict trade with those nations. Further, the request depends on political willingness in Washington and may face opposition in Congress. The negotiation also implicitly frames energy trade as a diplomatic bargaining chip.
What To Watch
Key indicators include whether the U.S. agrees to relax sanctions for India, how trade partners respond, and whether India can then phase out Russian imports without sharply raising costs. The outcome could set precedent for energy diplomacy under sanctions.
