The US on Monday renewed its sanctions waiver on Russian oil just hours after India's petroleum ministry defiantly stated that it would keep buying Russian oil to meet its needs, "waiver or no waiver".
First issued in mid-March and renewed once on April 16, the newest 30-day waiver announced by Treasury Secretary Scott Bessent comes after the previous one expired on April 18.
"This general license will help stabilise the physical crude market and ensure oil reaches the most energy-vulnerable countries," he wrote in an X post, adding that it would also reduce China's ability to stockpile Moscow's discounted oil.
.@USTreasury is issuing a temporary 30-day general license to provide the most vulnerable nations with the ability to temporarily access Russian oil currently stranded at sea.
— Treasury Secretary Scott Bessent (@SecScottBessent) May 18, 2026
This extension will provide additional flexibility, and we will work with these nations to provide…
The post did not mention India's defiant stance on purchasing Russian crude, but has raised eyebrows for the jibe at China's stockpiling, as it comes just days after US President Donald Trump celebrated Washington's ties with Beijing during an official visit.
The renewal comes after India on Monday declared that it would continue buying energy supplies from Russia—regardless of sanctions—as India's crude sourcing decisions are driven primarily by commercial considerations and adequate supply availability.
"Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing from Russia earlier ... before waiver also, during waiver also, and now also," Sujata Sharma, joint secretary in the Ministry of Petroleum and Natural Gas (MoPNG), told reporters at a media briefing.
#WATCH | Delhi: Sujata Sharma, Joint Secretary (Marketing & Oil Refinery), Ministry of Petroleum & Natural Gas, says, "Regarding American waiver on Russia, I would like to emphasise that we have been purchasing from Russia before waiver also, during waiver, and now also. It is… pic.twitter.com/aFlZwNPJZn
— ANI (@ANI) May 18, 2026
"Whatever waiver or no waiver, it (availability) will not affect our supplies, and all efforts have been taken to that effect," she added, reiterating that India still had an adequate stockpile of crude.
Notably, while Russia and a number of its entities—including crude oil suppliers Rosneft and Lukoil—have been sanctioned by Europe and the US since the Russia-Ukraine war began in 2022, the sanctions have never applied to Russian oil.
As a result, India has continued to import Moscow's oil despite the war by strictly ensuring that the transactions do not involve sanctioned sellers or intermediaries, that only non-sanctioned vessels are used, and that only fully compliant financial, insurance, and trading channels are used.
According to a PTI report citing Kpler data, India's crude imports from Russia in May are expected to average at a record 1.9 million barrels per day (bpd), even as Brent crude prices remain more than 50 per cent above pre-war levels.
