"US Treasury Secretary Scott Bessent announced that the United States will not be renewing the general license on Russian oil, nor on Iranian oil, signaling a significant policy shift."
"In March, India was granted a 30-day waiver to purchase Russian oil, which was part of an effort to enable oil to keep flowing into the global market."
"India recently imported Iranian oil for the first time since 2019, following the US waiving sanctions on buying Iranian crude, highlighting its reliance on diverse oil sources."
The United States has decided not to renew sanctions waivers that allowed India to purchase Iranian and Russian oil. This includes a 30-day waiver on Iranian oil shipments expiring soon and a similar waiver on Russian oil that has already lapsed. The decision marks a shift from previous policies aimed at increasing global oil supply. India, being a major oil importer, had recently resumed imports of Iranian oil for the first time since 2019, following a temporary waiver. India's economy heavily relies on oil imports from various countries.
Read at www.dw.com
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