US ends India waiver on Russian oil imports

The United States has announced the termination of a temporary waiver that had allowed India to purchase discounted Russian oil, marking a significant shift in Washington’s sanctions enforcement policy.

According to reports cited from Indian media, Indian refineries had placed orders for approximately 30 million barrels of Russian crude during the period when the waiver was in effect. The arrangement had enabled India to continue importing oil from Russia at reduced rates despite broader Western restrictions linked to the ongoing conflict.

US Treasury officials confirmed that the grace period for oil deals completed before March 11 has now expired. They further stated that while earlier shipments already at sea may still be processed, no new agreements involving discounted Russian oil will be permitted under the revised policy.

The waiver had originally been introduced as a temporary measure allowing India a limited window to adjust its energy procurement strategy. However, US authorities have now clarified that this flexibility will not be extended.

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The decision is expected to have implications for global oil markets, particularly for Asian refiners that had increased their reliance on discounted Russian crude amid volatile international energy prices.

Indian refineries, which expanded purchases during the waiver period, may now face higher import costs as they are forced to diversify supply sources or revert to market-priced crude from alternative exporters.

The development also comes amid broader geopolitical tensions surrounding energy security and sanctions enforcement, as Western countries continue to restrict Russian oil revenues while managing global supply stability.

Analysts say the move could increase pressure on oil prices in the short term, depending on how quickly Indian buyers adjust their procurement strategies and whether alternative suppliers can meet demand.

The US has reiterated that its sanctions framework will continue to target new energy transactions linked to Russia’s oil exports, while allowing only limited exceptions for previously contracted shipments already in transit.