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Indian Official Says US Sanctions Waivers Do Not Affect Russian Oil Purchases
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India continues to purchase Russian oil regardless of United States sanctions waivers, according to an Indian petroleum ministry official cited by Reuters on May 18.
During a media briefing in New Delhi, Sujata Sharma, a joint secretary in the petroleum ministry, stated that India’s procurement decisions are based on economic viability rather than external policy changes.
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“Regarding [the] American waiver on Russia, I would like to emphasize that we have been purchasing from Russia earlier… I mean before waiver also, during waiver also, and now also,” Sharma said, as quoted by Reuters.
The official noted that India has secured sufficient crude oil supplies and will maintain its current purchasing strategy irrespective of Washington’s sanctions framework.
“It is basically the commercial sense which should be there for us to purchase,” Sharma stated, according to the publication. “There is no shortage of crude. Enough crude has been tied up repeatedly… and this, whatever waiver or no waiver, it will not affect.”
The US sanctions waivers referenced by Indian officials stem from a recent policy in Washington aimed at stabilizing global energy markets amid the US-Israeli operation against Iran.
In March, the United States granted a 30-day license permitting the purchase of Russian oil stranded at sea. According to recent reports, it was estimated that the waiver affects approximately 100 million barrels of oil, potentially allowing Moscow to generate up to $10 billion in revenue.
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