Ever since the ban on Iranian oil imports by European Union nations came into effect in February 2012, Indians oil companies have gradually reduced their dependence on oil from the West Asian country and put in place alternative arrangements.

India aims to cut Iranian oil imports by around 15% every year from the current level of 15 million tonne, which itself is down 35% from the level in 2008-09. The country's largest buyer of Iran crude oil, Mangalore Refinery and Petrochemicals (MRPL), has reduced imports from the country to 5 million tonne this fiscal from 6.2 million tonne in 2011-12.