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A short-term US sanctions waiver has brought Iranian oil back into India’s strategic calculations, but the decision is far from straightforward. As tensions in West Asia disrupt global supply chains, Indian refiners are exploring options to stabilise crude imports. Iranian oil offers both economic and technical advantages, but the window is limited and filled with uncertainty. With around 130 to 170 million barrels already at sea, the market has immediate supply potential. However, banking restrictions, compliance risks, and geopolitical sensitivities remain major hurdles. India, the world’s third-largest oil importer, must now decide whether to act quickly or stay cautious. This story examines the risks, the opportunity, and the larger energy strategy behind India’s possible return to Iranian crude.