India is facing a significant challenge as the United States announced it will not extend waivers allowing countries to purchase Russian and Iranian energy without facing sanctions. This decision, made public on April 16, 2026, directly impacts India’s substantial imports of Russian oil.
Treasury Secretary Scott Bessent confirmed that the US would not renew the general licenses on Russian and Iranian oil. The expired waivers had previously allowed India to secure oil amidst global price hikes. In March 2026, India’s crude oil purchases from Russia soared to 5.3 billion euros, making it the second-largest buyer of Russian fossil fuels.
Prime Minister Narendra Modi discussed the situation in a phone call with US President Donald Trump, emphasizing the importance of keeping the Strait of Hormuz open. The call highlighted the strategic partnership between the two nations, with further talks expected as US Secretary of State Marco Rubio plans a visit to India in May.
The expiration of these waivers coincides with increased tensions in the Strait of Hormuz, where the US has implemented a naval blockade. India’s reliance on imported oil, over 85% of its needs, makes the situation particularly precarious. The upcoming Quad ministerial meeting in India is likely to address these energy security concerns.
Looking ahead, India must navigate its energy strategy amidst these geopolitical shifts. With US tariffs on Indian goods still in place, and the potential for new energy deals on the horizon, the coming months will be critical in shaping India’s foreign policy and economic stability.
Published in SouthAsianDesk, April 17, 2026
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