US extends sanctions waiver that allowed India, other countries to buy Russian oil

United States President Donald Trump’s administration on Friday issued a waiver allowing countries, including India, to purchase sanctioned Russian oil and petroleum products, that were loaded onto ships as of Friday. The US Treasury Department said that the waiver allows these purchases till May 16. An earlier 30-day waiver had expired on April 11.

The move is aimed at easing global energy prices, which have increased amid the conflict in West Asia.

The extension came two days after Treasury Secretary Scott Bessent said that Washington would not renew the waiver permitting countries to buy Russian oil without facing US sanctions.

On Wednesday, Bessent said that the waivers had pertained to oil “on water prior to March 11”. “So all that has been used,” he had told reporters.

On March 5, the US had granted Indian refiners a 30-day waiver allowing them to buy Russian oil stranded at sea amid the conflict in West Asia. The US treasury secretary had at the time described the move as a short-term measure aimed at keeping global oil supplies, and maintained that it would not “provide significant financial benefit” to Russia.

The relaxation allowed India to secure additional Russian oil supplies amid global disruptions, with refiners reportedly ordering around 30 million barrels during the period.

India is a net importer of oil and gas,...

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