Washington: The United States has announced it will not renew sanctions waivers that allowed countries, including India, to purchase Russian and Iranian oil without facing penalties. The decision follows the expiry of temporary licences issued during the recent global energy disruptions linked to tensions around the Strait of Hormuz. US Treasury Secretary Scott Bessent confirmed that the waivers, which applied to oil shipments loaded before mid-March, have now fully run their course.

The waivers had enabled India to secure additional crude supplies during a volatile period in global energy markets, with reports indicating that Indian refiners ordered around 30 million barrels of Russian oil. The temporary relaxation helped stabilise supply chains when key shipping routes were under pressure, but Washington’s latest move signals a return to stricter enforcement under its “maximum pressure” policy.

The decision has drawn criticism within the United States, particularly from Democratic leaders who argued the waivers indirectly benefited Russia. With the exemptions now ending, countries like India may need to further diversify their oil sourcing strategies as global energy uncertainties continue.

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