India has received its first shipment of Iranian oil in over seven years, thanks to a temporary waiver from the United States that allows local refiners to resume imports. Two very large crude carriers, the Iran-flagged Felicity and the Curacao-flagged Jaya, have docked at Indian ports, marking a significant development in India's energy sourcing. The waiver, which permits these transactions, is set to expire on April 19, 2024. Indian Oil Corporation, the country's leading refiner, has purchased oil from the Jaya, which is under U.S. sanctions. Additionally, Reliance Industries Ltd, which operates the world's largest refining complex, has also been allowed to buy Iranian oil from several vessels, all of which are over 20 years old and face U.S. sanctions. This resumption of imports is crucial for India, the world's third-largest oil importer, as it seeks to diversify its energy sources amidst fluctuating global oil prices.