India has reportedly approached the United States seeking a fresh extension of the sanctions waiver that allows the continuation of certain Russian oil imports, Bloomberg reported.
The move comes as global
energy supply chains remain disrupted and fuel supply stability continues to be a concern amid the ongoing US-Iran conflict.
In March, the US approved the waiver and later extended it till May 16 in an effort to ease rising oil prices by allowing additional crude supplies into the market.
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The waiver enabled Indian refiners to continue receiving already-loaded Russian cargoes.
It was also partially aimed at easing pressure on international oil prices by ensuring the continued flow of additional crude barrels.
According to the Bloomberg report, Indian officials have urged their US counterparts to ensure uninterrupted access to energy supplies, which has become critical as the West Asia conflict shows no signs of ending.
Although Russian crude has not been subjected to blanket sanctions, the US had earlier pushed India to reduce discounted purchases from Moscow as part of efforts to pressure Russia over the Ukraine war.
Meanwhile, Indian refiners have significantly ramped up imports from Russia ahead of the current waiver deadline.
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According to data from commodity analytics firm Kpler, India’s imports of Russian crude oil surged to an all-time high in May, crossing an average of two million barrels per day so far this month.
Despite the reports, neither New Delhi nor Washington has officially commented on India’s latest request for an extension of the waiver.
The current waiver, which was extended by the US in April, had allowed countries, including India, to continue receiving certain Russian oil cargoes amid ongoing volatility in global energy markets.
At the time, US Treasury Secretary Scott Bessent had defended the decision, saying it followed appeals from several energy-dependent nations during international financial meetings.
“I was approached by more than 10 of the most vulnerable and poorest countries in terms of energy, and they asked us to extend that sanction (waiver),” he had said, while clarifying that the extension would remain in force for only 30 days.
India’s purchases of Russian crude have continued at elevated levels in recent months despite Western sanctions pressure and supply uncertainties linked to tensions in the Gulf region.
