Congress slams PM Modi after reviews of India looking for US waiver on Russian oil Posted on May 15, 2026 by m2i8h0i8r@gmail.com Spread the loveCongress slams PM Modi after reviews of India looking for US waiver on Russian oil In line with reviews, the present US authorisation permitting India to import Russian crude is ready to run out on Could 16. The waiver was first accredited in March and later expanded to assist stabilise international oil markets by permitting extra crude provides.India has reportedly approached Washington looking for an extension as disruptions within the Strait of Hormuz proceed to pressure international power provides. Indian officers have additionally informed the US that securing steady power provides stays a precedence and warned that extended volatility in oil markets might have wider financial penalties.Additionally learn | India asks US for waiver on Russian oil as Iran warfare squeezes power provide: ReportReacting to the developments, the Congress accused the Modi authorities of compromising India’s sovereignty and power safety.“The Modi authorities’s capitulation on the nation’s power safety earlier than America is a worth your entire nation is paying by crippling shortages of petrol, diesel, and fuel. First, the Modi authorities stopped shopping for low-cost oil from Russia at America’s behest. Then, within the midst of the warfare, America granted India a ‘waiver’ to purchase oil from Russia, which expires on 16 Could.”“Now, as soon as once more, as an alternative of taking a choice within the nationwide curiosity itself, the Modi authorities is grovelling earlier than Trump, begging for permission to purchase oil from Russia,” it added.Whereas Russian oil is just not beneath blanket sanctions, the USA has repeatedly urged India to scale back discounted purchases from Moscow as a part of efforts linked to the Ukraine warfare, Bloomberg reported.India’s imports of Russian crude have continued at elevated ranges as refiners accelerated purchases forward of the waiver deadline. In line with Kpler knowledge, inflows in Could have reached 2.3 million barrels per day, supported by provisions permitting already-loaded cargoes to proceed arriving. Kpler estimates month-to-month inflows might nonetheless common round 1.9 million barrels per day.In April, the US Treasury Division prolonged the sanctions waiver on Russian oil, permitting the acquisition of Russian crude and petroleum merchandise that had already been loaded onto ships by that date. The exemption will stay legitimate till 12:01 am (0401 GMT) on Could 16, changing an earlier waiver that expired on April 11.In the meantime, Reuters reported that India declined Russia’s supply to produce liquefied pure fuel (LNG) cargoes that fall beneath US sanctions regardless of rising power pressures linked to tensions within the Center East. The choice reportedly left at the least one Russia-linked LNG cargo stranded close to Singapore whereas talks proceed over permitted provides. Post navigation Previous: Buckingham Palace hosts historic assembly between King Charles and New Zealand’s Māori QueenNext: PM Modi’s Excessive-Stakes Dubai Stopover as UAE Quits OPEC Amid West Asia Warfare Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment.
