US Ends Oil Waiver For Russia And Iran, Raising Stakes For India’s Energy Strategy

Washington: The United States has announced it will not extend the temporary sanctions waivers that had permitted limited purchases of Russian and Iranian oil without attracting penalties, a move that could have implications for countries such as India.

Speaking to reporters, US Treasury Secretary Scott Bessent confirmed that the exemptions applicable to oil shipments already in transit before March 11 have run their course and will not be renewed. According to Reuters, the decision marks a shift toward stricter enforcement of sanctions on Moscow and Tehran.

The waivers were introduced as a short-term measure to stabilise global energy markets amid disruptions linked to tensions around the Strait of Hormuz. These exemptions allowed pre-loaded cargoes to reach buyers and helped ease supply pressures during the crisis. India emerged as a key beneficiary during this period, securing additional crude supplies. Reports indicated that Indian refiners placed orders for roughly 30 million barrels of Russian oil while the waivers were in effect.

The temporary easing of sanctions also enabled the resumption of limited Iranian oil shipments to India, including deliveries that marked the first such imports in several years.

However, the policy drew criticism within the United States. Lawmakers, including Senator Richard Blumenthal, argued that such waivers could indirectly benefit Russia and undermine broader sanctions efforts, as reported by multiple agencies. With the waivers now set to lapse, Washington’s decision signals a renewed push to intensify economic pressure on both Russia and Iran.

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