New Delhi: The United States has granted India temporary permission to purchase Russian oil that is already loaded on ships at sea, a move aimed at stabilising global energy supplies during the ongoing conflict in West Asia. The measure is intended to address short term disruptions in the oil market while ensuring that supply continues to reach global refineries.
The decision allows Indian refiners to receive Russian crude that had already been shipped before the latest restrictions were introduced. The limited waiver applies only to oil currently floating on vessels and does not represent a broader policy shift on sanctions against Russia.
US officials indicated that the global oil market remains well supplied overall. However, temporary pressure on supply has emerged due to disruptions linked to the conflict involving Iran and tensions affecting shipping routes in the region. By permitting India to process oil already stranded at sea, the measure is expected to help bring additional barrels into the market more quickly.
Officials noted that India had previously reduced purchases of sanctioned Russian oil after being requested to do so and had planned to increase imports from the United States. The current permission is being treated as a short term arrangement designed to ease market pressure rather than a long term policy change.
Energy authorities explained that a significant volume of Russian crude has been sitting in floating storage around South and East Asia after buyers delayed shipments. Allowing India to refine these supplies is expected to free up capacity in the global market by reducing competition for other available oil.
The waiver is valid for 30 days and covers transactions involving Russian crude loaded onto vessels before March 5, 2026. Under the terms, the oil must be delivered to ports in India and purchased by companies operating under Indian law.
Officials emphasised that the measure is deliberately limited in scope and duration. The goal is to keep global oil prices stable and ensure steady supply while geopolitical tensions continue to affect energy markets. The move is also expected to provide immediate relief to refiners and help prevent further disruption in global oil flows.
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