Why Did India-Bound Oil Tanker Carrying Iranian Crude Change Course At The Last Minute?

A US-sanctioned tanker, Ping Shun, transporting Iranian crude oil has diverted its course from India to China, likely due to payment complications. Initially bound for Vadinar in Gujarat, the shipment could have marked India’s first Iranian oil import in nearly seven years. However, tighter payment terms—shifting from deferred credit to upfront settlement—appear to have driven the change. The move comes during a temporary US sanctions waiver allowing limited purchases of Iranian oil already at sea, but financial transactions remain difficult as Iran is excluded from the SWIFT global banking network.