India continues to buy Russian oil regardless of US sanction waivers, says official

India had been buying Russian oil even before the United States waived sanctions with respect to the purchases, and it continues to do so, a petroleum ministry official said on Monday.

“Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing from Russia earlier… before waiver also, during waiver also, and now also,” Sujata Sharma, the joint secretary in the Union Ministry of Petroleum and Natural Gas, told reporters during a media briefing.

India’s decisions on sourcing crude oil are based primarily on commercial viability, added the official.

The joint secretary also said that there was no shortage of crude supplies.

“Waiver or no waiver, it will not affect our supplies, and all efforts have been taken to that effect,” Sharma told reporters.

On March 5, the US granted Indian refiners a 30-day waiver allowing them to buy Russian oil stranded at sea amid the conflict in West Asia. A week later, Washington extended a similar 30-day licence to other countries for Russian crude loaded before March 11. Last month, the waiver was extended till May 16.

On Monday, United States Treasury Secretary Scott Bessent said that the United States was again “issuing a temporary 30-day general license” to countries to temporarily access Russian oil currently stranded at sea.

“This general license will help stabilise the...

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