Brief by Shorts91 Newsdesk / 04:37am on 08 Mar 2026,Sunday India Global
India said it does not require permission from any country to import Russian oil after the United States issued a temporary waiver allowing such purchases during the Middle East crisis. The government said India buys crude from the most competitive sources to safeguard national energy security. Officials added that India has diversified its oil suppliers from 27 to 40 countries and currently holds over 250 million barrels of crude and petroleum products in reserves, enough for several weeks of consumption. Russia remains India’s largest supplier, with imports rising after discounted prices following the Ukraine war. Rising tensions around the Strait of Hormuz have disrupted global energy flows and pushed oil prices sharply higher. (PC: Reuters)
