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India Requests U.S. to Extend Russian Oil Waiver as Iran Conflict Disrupts Energy Supply

GateNews
Commodities
ON1.27%
MAY0.02%
IN-6.40%
FUEL0.04%
According to sources, India requested the U.S. to extend its waiver on Russian crude oil on May 14, citing ongoing disruptions from the 11-week Iran conflict and concerns over energy supply. The U.S. initially authorized the waiver in March and expanded it, with the current authorization set to expire on May 16. Indian officials warned that without extended access, persistent oil market volatility could trigger widespread consequences, including domestic fuel shortages affecting 1.4 billion people.
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