The United States has made it clear that it will not extend any further sanctions waivers allowing countries to purchase oil from Russia or Iran. US Treasury Secretary Scott Bessent announced at the White House that the temporary license only covered shipments that were already in transit before March 11, and that phase has now concluded. This decision directly impacts countries like India that had been relying on discounted Russian crude.

Earlier in March, the US had granted India a 30-day exemption despite ongoing sanctions linked to the Ukraine war. The waiver was later extended to a few other nations but officially expired on April 11. During this window, India significantly increased its oil imports from Russia, with purchases rising to €5.3 billion in March as both volumes and global oil prices surged.

With the waiver now off the table, India is likely to face pressure to shift toward alternative energy sources or suppliers. The move could also influence global oil markets, especially at a time when prices remain unstable. Analysts believe India’s next steps will be crucial in shaping both regional energy dynamics and its geopolitical balancing strategy.