India Seeks US Extension of Russian Oil Waiver Amid Iran War

India has formally asked the US to extend its waiver, which permits the sale, transportation, and unloading of Russian-origin oil. The waiver, set to expire on May 16, is vital for stabilizing global oil markets and ensuring uninterrupted energy supplies. India warns that reducing Russian oil imports could lead to economic instability and market volatility. The waiver allows India to continue importing discounted Russian oil, a key component of its energy strategy. While the US has pressured India to cut Russian oil purchases, India has emphasized its need for stable energy supplies amid the Iran war. The US Treasury’s authorization for Russian oil imports expires on May 16, and the extension request is part of broader efforts to manage energy security in a volatile geopolitical environment. Tehran says the waiver is essential for global energy stability. Washington says it is working to reduce reliance on Russian oil, but has not yet responded to India’s request.