New Delhi, India — April 18, 2026
In a significant move impacting global energy markets, the United States has extended its waiver allowing the purchase of Russian oil via maritime routes until May 16, offering relief to major importers such as India.
The decision, announced by the U.S. Department of the Treasury, comes amid ongoing volatility in global oil markets and rising geopolitical tensions, particularly in West Asia.
Waiver Extended Until May 16
According to the newly issued license, countries can continue purchasing Russian crude oil transported by sea until May 16. The earlier exemption had expired on April 11, creating uncertainty in the energy market.
The extension is seen as a strategic effort to stabilize global oil prices and ensure uninterrupted supply, especially at a time when geopolitical tensions are affecting energy flows.
However, the license explicitly excludes transactions involving countries such as Iran, Cuba, and North Korea.
🇮🇳 Relief for India’s Energy Needs
The extension is expected to benefit India, one of the largest buyers of Russian crude since 2022. Lower-cost Russian oil has played a key role in supporting India’s energy security and managing domestic fuel prices.
Data from the Centre for Research on Energy and Clean Air (CREA) highlights the scale of this relationship:
- India imported $5.8 billion worth of Russian crude in March,
- Up from $1.54 billion in February,
- Marking more than a threefold increase month-on-month
Since March 2022, India has emerged as a key destination for Russian oil exports. In 2024, imports reached nearly 2 million barrels per day, with annual purchases estimated at around $44 billion.
Political Reactions in the US
Earlier, US Treasury Secretary Scott Bessent had indicated that the waiver might not be renewed, making the extension a notable policy shift.
Critics contend that continued flexibility on Russian oil purchases could undermine broader sanctions, particularly in the context of the ongoing conflict between Russia and Ukraine.
Global Energy Market Impact
The waiver extension is expected to:
- Prevent sharp spikes in global crude oil prices
- Maintain supply stability in key markets
- Provide short-term certainty to major importers like India
Energy analysts suggest that while the move offers temporary relief, long-term market stability will depend on geopolitical developments and supply diversification strategies.
