US Russian crude waiver expires: What it could mean for India’s oil imports from Russia
Indian Express·4h ago·Neutral
What Happened
The US Treasury Secretary Scott Bessent announced that sanctions waivers for Russian and Iranian oil will not be renewed after expiring on April 11 and April 19 respectively. These waivers had allowed countries to import crude already loaded on tankers before specified dates. India heavily utilized the Russian oil waiver to increase imports amid global supply disruptions from West Asia conflicts. The expiration may reduce Russian oil flows to India, though Russian crude is expected to remain dominant in India's import portfolio for the foreseeable future.
Key Entities
US Treasury Secretary Scott BessentRussian crude oilIranian oilIndiaStrait of HormuzWest Asia warRosneftLukoil