US eases sanctions on Russian oil sales to India during Iran conflict
Summary
The United States has temporarily eased sanctions on Russian oil sales to India to keep oil supplies moving despite a conflict with Iran. The waiver allows India to buy Russian oil that is currently stranded at sea. The move comes amidst fears of an energy crisis as a large portion of India's oil imports move through the Strait of Hormuz, threatened by the conflict.Key Facts
- The US temporarily eased sanctions to let India buy Russian oil stranded at sea.
- This decision was made to keep oil flowing during tensions with Iran.
- Nearly half of India’s crude oil imports pass through the Strait of Hormuz.
- Tehran has threatened vessels in the Strait due to a US-Israeli conflict with Iran.
- President Trump warned the war against Iran might last four to five weeks or more.
- India imports 90% of its crude, with half of it through the threatened strait.
- The waiver applies to approximately 145 million barrels of Russian crude.
- Russia is a major oil supplier to India, contributing to 20% of its imports.
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