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Brief by Shorts91 Newsdesk / 02:39am on 11 Mar 2026,Wednesday India Global
India has purchased around 30 million barrels of Russian crude oil after the United States granted a temporary sanctions waiver, allowing Indian refiners to buy oil already loaded onto tankers. The move comes as the ongoing Middle East conflict has disrupted supplies from key Gulf producers and threatened shipping through the Strait of Hormuz, a critical route for global energy trade. Indian companies, including major refiners, quickly bought available Russian cargoes to secure fuel supplies and stabilize the domestic market. The waiver, valid for about 30 days, is intended to ease global oil shortages and rising prices, though analysts say it offers only short-term relief for India’s energy needs. (PC: AP)
