India has reportedly requested the United States to extend its waiver on Russian oil imports, as ongoing disruptions in the Strait of Hormuz continue to strain global oil supplies.
The United States initially approved the waiver in March and later broadened its scope, with the current authorization remaining valid until May 16. According to Bloomberg, the measure was introduced to help stabilize global oil markets by permitting additional crude supplies. Although Russian oil is not subject to comprehensive sanctions, Washington has consistently urged India to scale back its purchases of discounted Russian crude as part of broader efforts to exert pressure on Moscow.
As reported by Bloomberg, citing sources familiar with the matter, Indian officials have informed Washington that energy security continues to be a key priority, particularly as the nearly 11-week-long conflict in West Asia shows no sign of immediate resolution. New Delhi has also reportedly cautioned that sustained volatility in global crude oil markets could trigger wider economic repercussions.
In April, the U.S. Treasury Department extended the sanctions waiver on Russian oil, providing temporary relief to countries importing crude from Russia amid constrained global supply conditions.
Since 2022, India has become one of the largest purchasers of Russian crude, taking advantage of significant discounts that have helped curb domestic fuel inflation and support refinery profit margins.
India’s imports of Russian oil have remained at record levels, with refiners accelerating purchases ahead of the waiver deadline. So far in May, inflows have reached a record of 2.3 million barrels per day, according to Kpler data, supported by allowances for cargoes already loaded. Forecasts from Kpler indicate that monthly imports could still average around 1.9 million barrels per day.
Meanwhile, Reuters reported that India has declined Russia’s offer to supply liquefied natural gas (LNG) cargoes subject to U.S. sanctions, even as regional energy pressures mount amid Middle East tensions. The decision has left at least one Russia‑linked LNG shipment stranded near Singapore, while discussions continue over permitted supplies.
Any extension of the waiver could play a pivotal role in stabilizing global oil prices, as concerns grow over potential disruptions to shipping routes and energy infrastructure across the Gulf region.
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