India will continue purchasing Russian crude oil irrespective of American sanctions waivers, a senior petroleum ministry official declared on Monday, May 18, in New Delhi, one day after a temporary US authorisation for Russian oil transactions expired without a confirmed renewal. Sujata Sharma, Joint Secretary in India’s Ministry of Petroleum and Natural Gas, made the statement at a media briefing in New Delhi on Monday. The declaration signals that New Delhi has no intention of altering its energy procurement strategy in response to shifting US policy on Russian oil.
“Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing from Russia earlier — I mean before waiver also, during waiver also, and now also,” Sharma told reporters.
A temporary US sanctions waiver allowing the sale and delivery of Russian seaborne crude expired on May 16, marking the second time Washington has let the relief measure lapse without clarity on an extension. The general licence, first issued by the US Treasury Department in mid-March and extended in April, was designed to ease pressure on global energy markets after the US-Israeli war against Iran triggered the largest-ever oil supply disruption.
Sharma was direct on the supply outlook. “It is basically the commercial sense which should be there for us to purchase. There is no shortage of crude. Enough crude has been tied up repeatedly — and this, whatever waiver or no waiver, it will not affect,” she said.
The volume of Indian purchases from Russia has been substantial. Data from Kpler showed India’s imports of Russian oil rose to a record 2.3 million barrels per day in May as refiners accelerated buying under the temporary authorisation. Russian oil imports into India are expected to average close to 1.9 million barrels per day for the full month of May, according to Kpler’s predictive data, near record levels.
The waiver had allowed Indian refiners to take deliveries on tankers sanctioned by the US and to deal directly with Russian companies under sanctions, such as Rosneft and Lukoil. In the months before the waiver was issued, the US had sanctioned certain Russian entities including Rosneft and Lukoil, as well as specific vessels and financial channels, though Russia itself was never placed on the sanctions list. This led to a brief moderation in purchases, before waivers allowed Indian refiners to step up buying again.
Sanctions experts told Radio Free Europe/Radio Liberty over the weekend that they expect the US Treasury Department to either issue a short-term extension or grant specific exemptions to major Asian refineries, including those in India. The US Treasury Department declined to comment when contacted about the possibility of another extension, according to The Moscow Times.
The lapse carries wider market implications. Global crude markets have remained volatile due to the more than two-month-long conflict in the Persian Gulf and fears over supply disruptions linked to the Strait of Hormuz. Brent crude has climbed above $105 per barrel — up more than 40 percent from the $72–$73 range before the Iran conflict began in late February.
While some US allies in Europe criticised the waiver measure for providing a financial boon to Moscow, vulnerable economies in Asia lobbied Washington for extensions to combat domestic fuel crises. India’s position aligns with a broader pattern of Asian importers resisting Western pressure over Russian energy purchases.
India’s Press Information Bureau has previously stated that New Delhi was not dependent on “a short-term waiver” to buy Russian oil, saying “India has never depended on permission from any country to buy Russian oil.”
Regional and Global Impact
Analysts said India is unlikely to move away from Russian crude in the near term, as the continued flow of Russian crude comes even as Brent prices remain more than 50 percent above pre-war levels, reinforcing India’s push to secure cheaper supplies amid global market volatility.
Russia’s revenue from crude and petroleum shipments continued to grow in April, rising to $19.18 billion, according to the International Energy Agency’s monthly report published last week. India’s continued purchasing directly sustains that revenue stream regardless of the waiver status.
Indian Oil Corporation and Bharat Petroleum Corporation began purchasing prompt crude cargoes from West Africa and the United States in the week of May 13, according to market participants, suggesting refiners are building alternative supply lines as a contingency. However, Sharma’s public statement makes clear these are supplementary, not replacement, measures.
Background
Discounted Russian crude rose to become the core of India’s oil import basket from 2022 onwards, when Moscow’s invasion of Ukraine triggered sweeping Western sanctions and disrupted Russia’s traditional export markets. India, the world’s third-largest crude importer and consumer, sharply increased purchases of Russian oil to take advantage of lower prices, helping domestic refiners manage elevated global energy costs. India’s imports of Russian crude nearly doubled to 2 million barrels per day in March, accounting for 44.4 percent of its total oil imports. India has repeatedly defended its energy purchases by pointing out that European countries themselves continued buying Russian energy products for a long period after the war began. The general licence covering Russian oil was first issued in mid-March 2026 following the US-Israeli military campaign against Iran, and was extended once in April before expiring on May 16 without a confirmed third extension.
What Happens Next
The US Treasury Department has not confirmed whether it will issue a short-term extension or grant specific exemptions to major Asian refineries. US Treasury Secretary Scott Bessent said in late April that the Trump administration would not renew the waiver for a second time, though he had issued a similar statement ahead of the first extension, which was nonetheless granted. India’s petroleum ministry has indicated that procurement will continue on a commercial basis regardless of the outcome. Both Indian Oil Corporation and Bharat Petroleum Corporation have already begun securing alternative prompt cargoes from West Africa and the United States as a contingency measure. Meanwhile, the Trump administration is also reportedly seeking to pressure buyers of Russian oil and tighten financial pressure on the Kremlin as part of broader efforts to end the war in Ukraine.The US Treasury Department has not confirmed whether it will issue a short-term extension or grant specific exemptions to major Asian refineries. US Treasury Secretary Scott Bessent said in late April that the Trump administration would not renew the waiver for a second time, though he had issued a similar statement ahead of the first extension, which was nonetheless granted. India’s petroleum ministry has indicated that procurement will continue on a commercial basis regardless of the outcome. Both Indian Oil Corporation and Bharat Petroleum Corporation have already begun securing alternative prompt cargoes from West Africa and the United States as a contingency measure. Meanwhile, the Trump administration is also reportedly seeking to pressure buyers of Russian oil and tighten financial pressure on the Kremlin as part of broader efforts to end the war in Ukraine.
