India has reportedly approached the United States to extend its waiver on Russian oil imports as the Strait of Hormuz continues to see disruptions for 75 days now, straining oil supplies across the world. According to Bloomberg News, New Delhi has asked Washington to continue the arrangement beyond its current expiration date, with the current authorisation set to remain valid until May 16. The US had first cleared the arrangement in March and expanded it later, with the current authorisation set to remain valid until May 16. The waiver was introduced to help stabilise oil markets by allowing additional crude supplies, though Russian oil remains under sanctions pressure. As reported by Bloomberg, the relaxation reflects the trade-offs the Trump administration has been forced to adopt for its war against Tehran, which began in February and led to the near-total closure of crude flows through the Strait of Hormuz. However, the US hasn't clarified whether it will extend the waiver allowing countries including India to continue buying the barrels after May 16, according to people familiar with Indian refiners' outlook. In April, the US extended the waiver for another 30 days after direct requests from vulnerable countries during global finance meetings, with Treasury Secretary Scott Bessent noting that over ten countries had approached Washington citing their energy vulnerabilities.
India's imports of Russian oil have continued at record levels, with inflows reaching 2.3 million barrels per day in May so far, according to Kpler data. As reported by The Times of India, forecasts suggest monthly inflows could still average about 1.9 million barrels per day. The fresh licence issued allows the purchase of Russian oil and petroleum products that were already loaded onto ships by the date of the waiver announcement. Earlier this year, Indian imports of Russian crude surged, with shipments peaking at around 2.25 million barrels per day in March—almost double February's figures. Russian crude now accounts for roughly half of India's total oil imports, with India emerging as one of the largest buyers of Russian crude since 2022, ranking second globally after China, and currently the biggest purchaser of Russia's flagship Urals grade. This trade provides a key revenue stream for Moscow as it navigates Western sanctions. Meanwhile, India reportedly declined Russia's offer to supply liquefied natural gas (LNG) cargoes that fall under US sanctions, resulting in at least one Russia-linked LNG shipment being stranded near Singapore. Adding to concerns over Persian Gulf stability, Bloomberg reported Thursday that two ships laden with LPG, Symi and NV Sunshine, appear to have transited the Strait of Hormuz, with both ships switching off their transponders as they went dark. If the waiver isn't extended, local processors could be forced to source alternative and pricier spot barrels from elsewhere, according to people familiar with Indian refiners' outlook.
Indian officials have told Washington that securing a stable energy supply remains a priority amid the Middle East crisis that began on February 28. According to The Times of India, they have warned that continued volatility in oil markets could have broad economic consequences. Union petroleum and natural gas minister Hardeep Singh Puri said at the CII Annual Business Summit that India currently has crude oil and LNG reserves sufficient for 69 days, while LPG stocks can last up to 45 days. He noted that the government has significantly increased LPG production to strengthen supply security, raising daily output from 35,000–36,000 tonnes to 54,000 tonnes in response to geopolitical tensions. With no end in sight for the conflict, officials in New Delhi have warned Washington that supply remains a priority, as continued volatility will have wide consequences, including impact on the 1.4 billion Indians already struggling with a cooking gas shortage. Prime Minister Narendra Modi has urged citizens to conserve fuel as much as possible and reduce consumption of goods that require significant foreign exchange expenditures, while the Indian government tries to balance domestic market needs with US sanctions policy.
India shared its stance during Russian deputy energy minister Pavel Sorokin's visit to New Delhi on April 30, when he met petroleum and natural gas minister Hardeep Singh Puri and other officials. As reported by The Times of India, Sorokin is likely to return in June for further talks. The Centre has repeatedly assured that India has adequate supply of fuels and no dry outs are reported, with Puri emphasizing that there is no supply issue and that the government has ruled out any immediate risk to supply disruption. While Russian crude is not subject to blanket sanctions, Washington has previously pushed New Delhi to cut back on discounted purchases in order to pressure Moscow over its war in Ukraine. However, Indian refiners have been going all out before the current waiver expires, with imports running at unprecedented levels as they capitalize on the temporary authorization. The latest request also highlights India's strategic balancing act between adhering to global sanctions regimes and ensuring sufficient energy supplies for its growing economy. No official confirmation has yet been issued by either the Indian or US governments regarding the new waiver request.
