Executives at leading refiners said they expected a US waiver allowing the purchase of Russian oil to be extended before it expires in the coming days. “India is grabbing all the Russian crude it can get its hands on,” said Vandana Hari, founder of Singapore consultancy Vanda Insights. Washington is eager to dampen oil prices, while India is rushing to secure supply. A first waiver allowing Russian oil purchases was issued in early March, and that has already been widened and extended. After the first waiver, India bought about 60 million barrels for delivery this month.

Source: The Edge Markets April 10, 2026 09:21 UTC