Washington, DC: Countries can continue to buy Russian crude and petroleum products currently at sea for one more month, without facing sanctions, the US has said.
This decision by the Trump administration to issue a second month-long sanctions waiver has come as a surprise for many as US treasury secretary Scott Bessent has specifically told reporters that the US would not be extending the measure.
The sanctions waiver covers oil already loaded onto vessels as of April 17 and permits purchases through 12:01 AM on May 16. This waiver is the second of its kind in recent days. It mirrors a previous waiver that expired on April 11, which was designed to cushion global energy markets from the supply shock caused by Iran’s effective closure of the Strait of Hormuz following the US-Israel military campaign that began on February 28.
This change of stance suggests that energy market pressures, and their domestic political consequences ultimately overrode the harder line. US gasoline prices have risen sharply since the conflict began, adding pressure on households ahead of the midterm elections later this year, as reported by News18.
The waiver’s extension provides short-term relief for India, though New Delhi had previously made it clear that it doesn’t consider US sanctions policy determinative of its own energy decisions.
Russia currently supplies between 38 and 40 per cent of India’s total crude imports, averaging roughly 1.57 to 1.98 million barrels per day in early 2026. India depends on imports to meet over 88 per cent of its energy requirements, and with Iranian oil effectively off the table due to longstanding sanctions, Russia and the broader West Asian region are its primary alternatives, both of which have been disrupted by the current conflict.
After the first waiver expired on April 11, Indian refineries signalled they would continue purchasing Russian crude regardless of the US position.
An official cited by Mint said, “Efforts are on for further LPG purchases from Russia. Also, import of both crude and LPG is likely to continue from non-sanctioned entities.” The official described India’s energy import strategy as a sovereign decision that does not hinge on US sanctions policy.
