India Seeks US Waiver Extension for Russian Oil Amid Persian Gulf Conflict

India has formally requested the United States to extend its waiver allowing imports of Russian oil, citing critical energy security concerns as the ongoing war in the Persian Gulf disrupts global supplies. The current authorization, initially granted in March and recently widened, is set to expire on May 16, 2026. Indian officials emphasize that securing affordable energy is a top priority for its 1.4 billion citizens, who are already facing shortages in cooking gas. With no immediate end to the Middle East conflict, New Delhi warns that market volatility could have severe domestic consequences. In anticipation of the waiver's expiration, Indian refiners have accelerated purchases, with daily inflows of Russian crude reaching an unprecedented 2.3 million barrels in May so far. While Russian crude is not under blanket sanctions, Washington had previously pressured New Delhi to reduce discounted purchases to penalize Moscow for its war in Ukraine. However, the strategic necessity of stabilizing energy markets amidst regional instability appears to be driving this diplomatic engagement. Data from Kpler indicates that full-month flows may average 1.9 million barrels per day, highlighting India's continued reliance on Russian supplies despite geopolitical pressures.