{"id":87722,"date":"2026-03-13T00:00:00","date_gmt":"2026-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/?p=87722"},"modified":"2026-03-13T10:16:34","modified_gmt":"2026-03-13T10:16:34","slug":"us-extends-russian-crude-waiver-as-india-scrambles-to-bypass-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/mena-india\/2026\/03\/13\/us-extends-russian-crude-waiver-as-india-scrambles-to-bypass-strait-of-hormuz\/","title":{"rendered":"US extends Russian crude waiver as India scrambles to bypass Strait of Hormuz"},"content":{"rendered":"

The US Treasury Department has extended a temporary authorization allowing countries to purchase Russian crude cargoes already in transit<\/strong>, Treasury Secretary Scott Bessent said on X<\/a>. The measure applies only to oil already at sea and is intended as a short-term step to expand available supply in global markets amid heightened geopolitical tensions. <\/p>\n

The authorization covers shipments loaded before 12 March<\/strong>, broadening a waiver previously granted to India that allowed buyers to receive cargoes loaded before 5 March, Bloomberg<\/a> reports. The decision allows purchasers to complete deliveries of crude already in transit without extending the exemption to new shipments.<\/p>\n

Market context: <\/strong>The move comes as governments monitor energy market volatility linked to tensions in the Middle East and risks to global supply routes. Brent crude was trading near USD 100 per barrel in early Asia trading, reflecting continued uncertainty in oil markets.<\/p>\n

Why it matters: <\/strong>India\u2019s purchases of Russian crude in March have witnessed a 50% uptick<\/a> to 1.5 mn bbl\/ d as refiners secure alternative feedstock. Diversifying supply is only a short-term hedge against geopolitical shocks impacting Gulf imports as Russian crude flows can partially offset disruptions. <\/p>\n

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Bypassing Hormuz not enough<\/p>\n

Rerouting oil imports: <\/strong>Indian refiners have stepped up crude imports through Saudi Arabia\u2019s Red Sea port of Yanbu and the UAE's Fujairah route to bypass Strait of Hormuz, Moneycontrol<\/a> reports, citing shipping and commodity tracking data. Both locations are linked to pipelines that allow crude exports to bypass the Hormuz Strait. <\/p>\n

Shipment volumes:<\/strong><\/p>\n