Oil Relief for Indian Refiners:

RELIANCE

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The U.S. has issued a 30-day temporary waiver on March 5, 2026, allowing Indian refiners to import Russian oil cargoes that were already loaded before the latest sanctions. The move mainly benefits refiners like Reliance Industries, which has long-term supply agreements with Rosneft. Many of these shipments were stranded at sea or held in floating storage after sanctions tightened, and the waiver now allows them to reach India until early April 2026, helping stabilize supply chains and global oil markets. For Reliance

, which sources around 500,000 barrels per day under its Rosneft deal for the Jamnagar Refinery, the decision offers timely relief after imports slowed following the November 2025 sanctions. The market reacted positively as well, with Reliance shares rising about 2%, along with other refiners like Bharat Petroleum Corporation Limited and Indian Oil Corporation, a reminder that even temporary geopolitical flexibility can quickly ease refining margins and calm energy markets. 📈