India has requested the US to extend its waiver on Russian oil imports due to ongoing disruptions in the Strait of Hormuz. This waiver, crucial for stabilizing oil markets, is set to expire on May 16. Despite US pressure to reduce discounted Russian oil purchases, India prioritizes stable energy supplies, warning of economic consequences from market volatility. India has requested the US to extend its waiver on Russian oil imports due to ongoing disruptions in the Strait of Hormuz. This waiver, crucial for stabilizing oil markets, is set to expire on May 16. Despite US pressure to reduce discounted Russian oil purchases, India prioritizes stable energy supplies, warning of economic consequences from market volatility.
