New Delhi [India], March 21 (ANI): Former Indian diplomat Veena Sikri on Saturday said India is likely to maximize oil purchases from Iran during the temporary sanctions waiver period while continuing to diversify its energy imports to ensure long-term energy security.
In an interview with ANI, Sikri said the recent easing of sanctions appears to be temporary, given the evolving conflict involving Iran, the United States, and Israel.
“I think it is good that we are again able to buy oil from Iran. However, the lifting of sanctions appears to be temporary, as there is uncertainty over how the conflict between Iran and the US-Israel bloc will develop,” she said.
She noted that the waiver period may last around 30 days, during which India is expected to increase imports from Tehran.
“For the moment, there is a temporary waiver of about 30 days. Given India’s long-standing and strong relations with Iran, and the special exception granted for Indian ships passing through the Strait of Hormuz, we will buy as much as we can. At the same time, we are also purchasing Russian oil,” Sikri said.
According to her, India’s energy strategy is based on diversification to maintain stability in supply and pricing.
“The Government of India has taken the right approach by diversifying sources of supply. Earlier, we were importing oil from around 15 to 20 countries. Now, that number has expanded to 25, 30, or even 40 countries,” she said.
Sikri added that this diversification enables India to adapt to shifting geopolitical conditions.
“If supplies are available from Iran, we will buy from Iran. If there are challenges, we can turn to alternatives such as Russian oil,” she said.
She also highlighted the safe passage of Indian vessels through the Strait of Hormuz, a critical global energy route.
“It is encouraging that Indian ships have been able to pass safely through the Strait of Hormuz. Three ships had arrived earlier, and more have followed. We expect additional shipments in the coming days, as several Indian vessels are currently sourcing supplies from Gulf countries,” she said.
“It is essential that these shipments continue to pass through the Strait peacefully. So far, the situation has remained stable, and we hope it continues,” she added.
However, Sikri cautioned that the broader regional situation remains uncertain, pointing to reports of US naval deployments.
“There are reports of American aircraft carriers, including USS Tripoli and USS Boxer, moving toward the region. Their arrival may take several weeks, but in the meantime, countries will look to build reserves and assess developments,” she said.
She warned that the potential escalation of the conflict in the Gulf region remains a key concern.
“The serious concern is the possibility of further escalation involving Gulf countries,” she added. (ANI)
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