New Delhi: The US has once again eased pressure on Russian oil flows, issuing a fresh 30-day waiver for purchases of Russian crude cargoes already at sea for what it described as the world’s “most vulnerable nations” dependent on energy imports.
US Treasury Secretary Scott Bessent announced the third temporary waiver late on Monday, extending the relief until 17 June after the previous exemption expired on 16 May. In a post on social media platform X, Bessent said, “This extension will provide additional flexibility, and we will work with these nations to provide specific licenses as needed. This general license will help stabilize the physical crude market and ensure oil reaches the most energy-vulnerable countries.”Even before Washington renewed the waiver, India had signalled continuity in its Russian oil strategy. Petroleum Ministry Joint Secretary Sujata Sharma told reporters on Monday that India was purchasing Russian oil before the waiver, during the waiver, and would continue to do so.
“Regarding American waiver on Russia, I would like to emphasise that we have been purchasing from Russia before waiver also, during waiver, and now also,” Sharma said.Data from global trade intelligence firm Kpler, accessed by ThePrint, shows India imported around 1.8 million barrels per day (mbpd) of Russian crude till 18 May 2026. The figure is higher than April’s 1.57 mbpd, though still below the March 2026 high of nearly 2 mbpd, when disruptions in West Asia pushed refiners toward discounted Russian barrels.“Regarding Russian oil, we expect import volumes to remain robust. While they may not reach the peak levels seen in March, we anticipate they will stay healthy, especially given that the US has issued further sanction waivers,” Nikhil Dubey, Lead Analyst (Refining and Modeling) at Kpler, told ThePrint.Graphic by Shruti Naithani | ThePrint
