The United States has extended a sanctions waiver on Russian oil sales until May 16, allowing the purchase and transport of crude already loaded on vessels, in a move that offers temporary relief to global buyers amid tight energy supplies.
The US Treasury Department issued a fresh licence on Friday permitting transactions involving Russian-origin crude and petroleum products loaded onto ships as of April 17. The waiver replaces an earlier relief window that expired on April 11.
According to the official licence, “all transactions… ordinarily incident and necessary to the sale, delivery, or offloading of crude oil or petroleum products of Russian Federation origin loaded on any vessel… on or before 12:01 a.m. eastern daylight time, April 17, 2026, are authorized through 12:01 a.m. eastern daylight time, May 16, 2026.”
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The extension comes days after US Treasury Secretary Scott Bessent had indicated that the waiver would not be renewed. “We will not be renewing the general license on Russian oil… That was oil that was on the water prior to March 11, so all that has been used,” he had said earlier.
From Expiry to Extension
The move assumes significance for India, which imports nearly 90% of its crude oil requirements. In recent weeks, Indian refiners have increased purchases of Russian oil as supply conditions tightened.
Data from Kpler shows India’s imports of Russian crude rose to 1.98 million barrels per day in March, the highest since June 2023. Imports have moderated to 1.57 million barrels per day so far in April, largely due to maintenance shutdowns at Nayara Energy’s 400,000 barrels-per-day refinery.
India’s Import Surge
Current volumes are estimated at around 100 million barrels.
Earlier, Indian purchases had slowed following US sanctions targeting major Russian producers such as Rosneft and Lukoil. However, evolving supply dynamics have brought Russian crude back into focus for refiners.
The waiver extension comes amid continued strain in global oil markets, with supply routes under pressure and demand remaining firm.
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For India, the extension provides a short-term window to continue sourcing discounted Russian crude, which has become a key component of its import basket since 2022.
The development also reflects the balancing act in global energy policy, where sanctions enforcement is being calibrated alongside the need to stabilise oil markets and contain price volatility.
With the current waiver set to expire on May 16, market participants are expected to closely track further signals from Washington on the future of Russian oil flows.
TOPICSCrude oilThis article was first uploaded on April eighteen, twenty twenty-six, at zero minutes past nine in the night.