US renews Russian oil waiver for 30 days, India among key beneficiaries

The US government on Friday renewed a waiver that allowed countries, including India, to purchase Russian oil for 30 days without attracting US sanctions.

The US Treasury said that the new waiver will remain in effect until May 16 and applies to crude oil and petroleum products loaded onto vessels by April 17.

The decision comes just days after Treasury Secretary Scott Bessent said the US would not extend earlier waivers covering Russian and Iranian oil.

While the new waiver allows Russian energy purchases, it excludes transactions involving Iran, as well as Cuba and North Korea.

The move highlights US effort to manage rising global energy prices, which have surged amid ongoing conflict in West Asia and disruptions to supply chains.

India's oil purchases India has emerged as a key beneficiary of earlier waivers, with a Hindustan Times report saying that New Delhi ordered around 30 million barrels of Russian oil after the policy was introduced.

Indian refiners had previously reduced purchases from companies like Rosneft and Lukoil due to sanctions.

In a press briefing on Thursday, External Affairs ministry spokesperson Randhir Jaiswal said India's energy policy remains unchanged and is guided by national needs and market conditions.