West Asia war: India likely looking at Iran oil return as US waives sanctions, but Tehran throws a spanner

Access to Iranian oil can diversify India's crude sources and potentially lower import costs, which is crucial for a major oil importer. This could improve profitability for refiners.

• •Indian refiners are gearing up to buy Iranian crude oil.
• •US temporarily lifts sanctions to address an energy shortage.
• •Indian companies await government guidance and payment clarity.
• •This follows India's recent rush for Russian oil supplies.
• •Risk flag: Tehran's conditions for oil sales