Brief by Shorts91 Newsdesk / 05:57am on 06 Mar 2026,Friday International
The United States has granted India a temporary 30-day waiver allowing it to continue purchasing Russian crude oil as the escalating Iran war threatens global energy supplies. The move aims to prevent major disruptions in the oil market after tensions in the Middle East disrupted shipping through the Strait of Hormuz, a key route for global crude trade. India, one of the world’s largest refiners and exporters of petroleum products, plays a crucial role in stabilizing energy markets. Washington said the short-term waiver will ensure oil flows continue while easing supply pressures caused by the conflict, but expects India to gradually increase imports of U.S. crude after the waiver period ends. (PC: ET Now)
