India seeks longer US waiver for Russian oil as Iran war fuels supply fears – Firstpost

India has asked the United States to extend a temporary waiver allowing continued purchases of Russian oil, as the ongoing conflict in the Persian Gulf threatens to disrupt global energy supplies and push up prices, according to Bloomberg News and Reuters reports.

The current US authorisation, granted earlier this year to ease pressure on global crude markets, is set to expire on May 16. The waiver had initially been approved in March and later expanded as Washington sought to prevent a fresh spike in oil prices amid tightening supply conditions.

According to people familiar with the matter cited by Bloomberg, Indian officials have conveyed to Washington that energy security remains a critical priority as the nearly 11-week-long conflict in West Asia continues with no immediate resolution in sight.

New Delhi has reportedly warned that prolonged volatility in crude markets could have broader economic and social consequences for the country’s 1.4 billion people, particularly at a time when shortages of cooking gas are already affecting households.

While Russian crude itself is not under blanket US sanctions, Washington has repeatedly urged India to reduce purchases of discounted Russian oil in an attempt to increase economic pressure on Moscow over the Ukraine war.

India, however, has emerged as one of the largest buyers of Russian crude since 2022, benefiting from steep discounts that helped contain domestic fuel inflation and protect refining margins.

The latest request also highlights how geopolitical tensions in the Middle East are reshaping global energy calculations, forcing major importers such as India to prioritise supply stability over broader strategic pressures.

Any extension of the waiver could become a key factor in balancing global oil prices as fears grow over potential disruptions to shipping routes and energy infrastructure in the Gulf region.