🛢️ India Turns to Russian Oil as Middle East War Disrupts Supply

Indian refiners are buying millions of barrels of prompt Russian crude cargoes to mitigate potential supply disruptions caused by escalating Middle East tensions. The move comes as the Iran conflict threatens global oil supply and pushes energy prices higher. The US Treasury Department has issued a 30-day waiver allowing Indian refiners to purchase Russian crude already in transit despite sanctions. The exemption aims to keep oil flowing into global markets and ease pressure on supply chains. The decision follows months of US pressure on India to reduce Russian imports, but the temporary waiver now allows stranded shipments to proceed. #CrudeOil #EnergyMarkets #IndiaRussiaOil #GlobalMarkets #OilSupply