The United States has approved a temporary waiver allowing Russian oil cargoes stranded at sea to be sold to India, easing restrictions despite ongoing sanctions on Moscow’s energy sector.
The US Treasury Department issued a 30-day licence authorising the delivery and sale of Russian crude oil and petroleum products loaded onto vessels by March 5, 2026, allowing them to be delivered to Indian buyers. The waiver will remain valid until early April 2026.
US officials said the decision aims to maintain stability in global oil markets and prevent supply disruptions caused by rising geopolitical tensions and shipping disruptions in key energy routes.
Treasury Secretary Scott Bessent described the measure as a short-term step to ensure oil continues to flow into global markets. He stressed that the waiver applies only to cargo already at sea, meaning the move will not significantly benefit Russia financially.
The decision comes as India faces concerns about energy supply disruptions, particularly due to instability affecting oil shipments through the Strait of Hormuz, a critical global energy chokepoint.
According to reports, Indian state-run refiners, including Indian Oil Corporation, Bharat Petroleum, Hindustan Petroleum Corporation, and Mangalore Refinery and Petrochemicals Limited, have already begun discussions with traders to secure Russian crude shipments, with around 20 million barrels reportedly purchased for delivery.
Despite the waiver, Washington has indicated it expects India to increase purchases of US crude oil in the future, while maintaining pressure on Russia over its war in Ukraine.