India's Dependence on US Waivers: A Geopolitical Conundrum
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A 30-day waiver issued by the United States allowing India to continue purchasing Russian oil has raised eyebrows among energy markets and geopolitics experts.
Dr. Anas El-Hajji, a noted expert, questioned the need for India to seek permission from the US government to buy Russian oil, highlighting deeper uncertainties in global energy security and shipping routes.
He pointed out that the waiver suggests the geopolitical and energy situation may not stabilise anytime soon, with long-standing views held by US President Donald Trump on oil prices also coming into play.
Dr. El-Hajji noted that some Indian imports had slowed in recent months following US sanctions targeting Russian firms, but major Indian refiners had previously relied heavily on Russian crude supplies.
He argued that Russian oil has continued to reach Indian refiners through less visible channels, with Indian refiners accessing discounted Russian crude through alternative markets.
The larger concern for global markets, according to Dr. El-Hajji, is not the waiver itself but the broader instability affecting shipping routes and energy trade, which he believes could be resolved quickly if regulatory obstacles were temporarily eased.
