{"id":111950,"date":"2026-05-13T14:12:18","date_gmt":"2026-05-13T14:12:18","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/111950\/"},"modified":"2026-05-13T14:12:18","modified_gmt":"2026-05-13T14:12:18","slug":"india-set-to-scale-back-russian-oil-imports-if-us-waiver-lapses-etenergyworld","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/111950\/","title":{"rendered":"India set to scale back Russian oil imports if US waiver lapses, ETEnergyworld"},"content":{"rendered":"

\"<p>TheThe oil market has been upended by the Iran war, which choked off substantial flows from the Persian Gulf to major buyers including India, the third-largest crude importer.
Indian oil refiners may be forced to scale back imports of Russian crude if a US sanctions waiver is not extended beyond this weekend, with local processors grappling with the fallout from the Iran war<\/a>.<\/p>\n

The US hasn\u2019t clarified whether it will extend the waiver allowing countries including India to continue buying the barrels after May 16, according to people familiar with Indian refiners\u2019 outlook, who asked not to be named due to the sensitivity of the matter. If it isn\u2019t, local processors could be forced to source alternative and pricier spot barrels from elsewhere, they said.<\/p>\n

So far in May, imports of Russian oil have been running at a record 2.3 million barrels a day, according to Kpler data, as the waiver allowed imports of already-loaded Russian oil. But if no new vessels with Moscow\u2019s crude are seen headed to India, full-month flows may drop to 1.9 million barrels a day.<\/p>\n

The oil market has been upended by the Iran war<\/a>, which choked off substantial flows from the Persian Gulf to major buyers including India, the third-largest crude importer. As part of efforts to contain soaring prices, the US first issued an India-specific waiver against taking Russian oil on March 5, allowing refiners to buy stranded cargoes. A week later, the US relaxation was broadened globally, and \u2014 following an extension \u2014 it is now due to expire on May 16.<\/p>\n

Ahead of that deadline, India\u2019s two biggest state refiners \u2014 Indian Oil Corp<\/a>. and Bharat Petroleum Corp. \u2014 bought crude from West Africa and the US this week, according to traders familiar with the matter. These were so-called prompt cargoes, which would load as soon as this month, they said.<\/p>\n

In addition, BPCL has begun exploring short-term supply agreements for Azeri and African grades to diversify away from its dependence on the Persian Gulf, people familiar with the discussions said.<\/p>\n

IOC and BPCL didn\u2019t respond to requests for comment. India\u2019s oil ministry didn\u2019t reply to email seeking comment.<\/p>\n

The US curbs against Russian oil were part of efforts by Washington to raise the pressure against Moscow over its invasion of Ukraine. The relexation reflects the trade-offs the Trump administration has been forced adopt for its war against Tehran, which began in February and led to the near-total closure of crude flows through the Strait of Hormuz<\/a>. <\/p>\n

Published On May 13, 2026 at 04:05 PM IST<\/p>\n

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