US Opens One-Month Window For India To Complete Russian Oil Shipments

The United States has authorised a temporary 30-day waiver allowing Indian refiners to import Russian crude oil shipments loaded onto vessels before early March.

The decision comes amid rising geopolitical tensions and concerns over disruptions in global energy markets.

The US Treasury Department issued the waiver to prevent supply disruptions while maintaining sanctions on Russia.

Officials said the move allows oil already in transit to reach its destination without violating existing restrictions.

The waiver remains valid until April 4 and applies only to Russian crude loaded before March 5 and destined for Indian ports.

Only companies incorporated in India are authorised to complete these purchases.

US officials said the waiver will not significantly benefit Russia as it covers only cargo already stranded at sea.

They described the move as a temporary stopgap measure to keep oil flowing into global markets amid heightened instability.

The licence issued by the US Treasury Department’s Office of Foreign Assets Control allows activities required to complete shipments, including vessel docking, anchoring, crew safety, emergency repairs, bunkering, piloting, insurance, and vessel management.

However, the authorisation applies only to deliveries at Indian ports and does not allow additional Russian oil transactions.

US authorities stressed that the waiver does not ease sanctions on Russia or permit new purchases beyond shipments already in transit. It also prohibits dealings involving Iran or Iranian-origin goods.

Western nations imposed sweeping sanctions on Russia after its 2022 invasion of Ukraine, targeting key sectors such as finance, defence, and energy.

Despite these restrictions, India has continued buying discounted Russian crude, becoming one of its largest buyers.

Officials said the temporary waiver aims to balance sanctions enforcement with the need to maintain stability in global energy markets.

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