US EditionUS Grants India 30-Day Waiver for Russian Oil Amid Strait of Hormuz Tensions
The US issued a 30-day waiver allowing India to buy stranded Russian oil to ease supply disruptions from Middle East tensions, with India holding a 45-day crude stock, officials said.
- On Thursday, the OFAC issued a 30-day waiver allowing India to purchase Russian crude loaded on vessels as of March 5, 2026.
- Because traffic through the Strait of Hormuz dropped sharply, crude prices climbed about 20% this week as the West Asia conflict tightened supplies.
- Indian refiners and traders moved quickly to secure supplies, with market chatter saying New Delhi may have bought up to 6-8 million barrels over the past 2-3 days.
- The administration says the narrow licence limits Russia's financial gain, as the waiver covers stranded cargoes and Washington warned it could reinstate penalties if India resumed purchases.
- The licence runs through April 4, 2026, authorising transactions only until 12:01 a.m. eastern daylight time, while the Indian National Congress criticised the Narendra Modi-led BJP government for sovereignty concerns.
199 Articles
199 Articles
India continues to import Russian oil and has never been "never dependent" on the agreement of any other country in this sense, said a New Delhi government source to the French Presse agency, transmitted Agerpres on Saturday.
US Allows India to Purchase Some Russian Oil Amid Energy Supply Disruptions Caused by War With Iran
Already a subscriber? Make sure to log into your account before viewing this content. You can access your account by hitting the “login” button on the top right corner. Still unable to see the content after signing in? Make sure your card on file is up-to-date. The United States has announced it will allow India to temporarily purchase Russian oil amid the ongoing war with Iran, which has disrupted global energy supplies and driven up oil p…
India to push ahead with oil imports from Russia
NEW DELHI — India said Saturday it was pushing ahead with imports of Russian oil, after a temporary US waiver to import crude from Moscow due war in the Mideast -- but adding it did not need Washington’s permission.
U.S. Secretary of Treasury Scott Bessent said on Friday that the U.S. government took in the calculation of sanctions on a higher amount of Russian oil, one day after India temporarily allowed Russia to buy oil on the basis of the strong increase in global oil prices, notes The Guardian. The war carried out by the US and ...
Bessent Says Trump ‘May Unsanction’ Russian Oil To Try To Bring Down Prices Amid Iran War
During a Friday appearance on Fox Business, Treasury Secretary Scott Bessent said President Donald Trump “may unsanction” Russian oil in an attempt to bring down skyrocketing prices amid the U.S. and Israel’s war on Iran. Speaking with Fox Business’s Larry Kudlow, Bessent was asked to comment on rising oil prices and his announcement of “an agreement on a detailed implementation plan by President Trump to deploy maritime reinsurance, including w…
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