US Grants License for Limited Russian Oil Sales to India
The US has issued a general license allowing limited sales of Russian oil to India amid disruptions in the Persian Gulf. The license permits transactions for crude oil and petroleum products loaded onto vessels before March 5, with delivery to Indian firms. This temporary waiver, expiring on April 4, aims to facilitate oil flow into the global market without significantly benefiting the Russian government. As of last week, 9.5 million barrels of Russian oil were reported stranded in Asian waters. Indian refiners have faced supply issues, with Mangalore Refinery suspending exports and shutting down a crude processing unit due to low stockpiles.
Published 23 hours ago • 06 Mar 2026, 06:51 AM IST