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Russian oil has returned to the centre of global energy politics after the United States temporarily allowed India to buy shipments currently stranded at sea.
Washington issued a 30 day waiver enabling Indian refiners to purchase Russian crude that became stuck in international waters following tighter sanctions on Moscow.
The move comes as conflict in the Middle East threatens to disrupt key shipping lanes and push global energy prices sharply higher. US officials said the waiver is intended to stabilise markets rather than deliver a financial windfall to Russia.
Treasury Secretary Scott Bessent described the step as a limited measure that only applies to Russian oil already floating on tankers.
Millions of barrels of Russian crude are believed to be sitting in vessels across the Indian Ocean and Arabian Sea after sanctions complicated trade flows. Analysts say those cargoes could now move quickly toward Indian ports if refiners reach new purchase agreements.
Russia has become a major supplier to India since the war in Ukraine began in 2022, offering discounted crude that helped New Delhi manage soaring global prices.
At its peak, Russian oil accounted for a large share of India's imports as refiners took advantage of lower costs . The current crisis in the Middle East has again pushed Russian supplies into the spotlight.
Nearly half of India's crude imports travel through the Strait of Hormuz, a narrow but critical route linking Gulf producers to Asian markets.
Tensions have risen sharply after Iran warned that ships using the strait could face retaliation following US and Israeli military actions.
Any prolonged disruption could threaten the steady flow of oil to India, which imports roughly ninety percent of its crude needs.
Industry data suggests more than one hundred million barrels of Russian oil and condensate could be available on tankers waiting for buyers. That supply may now offer India a short term buffer against instability in the Gulf.
Despite the waiver, US officials maintain their broader sanctions policy toward Russia remains unchanged.
