India Seeks Legal Path to Sanctioned Russian Oil Amid Market Turbulence

Indian refiners are consulting legal expertise to buy sanctioned Russian oil, after the U.S. temporarily lifted sanctions to ease market strains. Despite the waiver, India faces oil supply challenges due to the Middle East crisis and seeks to ensure a steady flow of essential fuels.

Indian oil refiners are exploring legal avenues to purchase sanctioned Russian crude following an American waiver intended to alleviate global market pressures. Two government sources confirmed the move, highlighting its significance amid ongoing international challenges.

On Thursday, the United States granted a 30-day waiver for India to purchase Russian oil stranded mid-sea as of March 5. This exemption is effective until April 4 and aims to ease supply strains aggravated by Middle Eastern tensions.

India, predominantly reliant on the Middle East for oil, is grappling with reduced imports following Washington's pressure to limit transactions involving sanctioned entities. The nation continues to face energy supply disruptions and is taking steps to mitigate potential domestic fuel shortages.

(With inputs from agencies.)