US extends sanctions waiver on Russian Oil import:
On May 19, 2026, the United States extended a temporary waiver allowing Russian oil already in transit to be delivered despite existing sanctions. This extension, valid until June 17, provides more time for shipments to reach buyers, including India, amid uncertainties in the global oil market due to the US-Iran conflict.
The US Treasury Department clarified that the waiver applies only to oil currently at sea, maintaining sanctions on Russian energy exports. Treasury Secretary Scott Bessent stated that the extension offers flexibility and helps stabilize the crude market, ensuring oil reaches energy-vulnerable nations like India.
India remains one of the largest importers of discounted Russian crude, with imports reaching a record 2.25 million barrels per day in March. Despite global tensions, India’s reliance on Russian oil has grown, accounting for about 50% of its total crude imports.
Sujata Sharma, Joint Secretary in India’s Ministry of Petroleum and Natural Gas, emphasized that India’s crude purchasing decisions are based on price and supply needs, independent of Western regulatory timelines. The waiver facilitates legal trade through non-sanctioned channels and expanded marine insurance.
Published in SouthAsianDesk, May 19, 2026
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