US Grants India Temporary Sanctions Waiver for Stranded Russian Oil Shipments

The US Treasury has granted Indian refiners a temporary 30-day waiver to purchase Russian oil shipments currently stranded at sea. This strategic move is intended to maintain global market supply stability amidst ongoing disruptions in the Strait of Hormuz caused by regional conflicts. The decision aligns with a broader US geopolitical strategy to pressure China by restricting its access to Iranian oil imports. By allowing these transactions, Washington aims to mitigate collateral damage to India's economy and ensure its energy security during a volatile period. While the waiver provides immediate relief, underlying tensions in critical maritime corridors remain a significant risk factor for global oil price volatility. Market participants are closely monitoring the impact on Brent and WTI crude benchmarks, as well as the performance of the Indian Rupee (INR).