The 30-day extension allows Indian refiners to continue processing Russian crude and products without US sanctions risk.
The US extended a waiver for India’s imports of Russian crude and oil products for another 30 days, effective May 18. The exemption, first granted in March, applies to shipments loaded before March 12 and was previously extended in April amid tight global oil supplies following disruptions in the Strait of Hormuz.
India has relied on discounted Russian crude to offset rising energy costs, with refiners processing record volumes in recent months. The waiver’s renewal follows pressure from Asian buyers and market stability concerns, though US officials have signaled no further extensions beyond June.
Markets showed limited reaction, as the extension was widely anticipated by traders tracking geopolitical supply risks.