The United States is set to end its waiver allowing the purchase of Russian oil, a move that will likely impact India's energy supplies. US Secretary of State Marco Rubio stated that the current waiver was 'time-limited' and established to ease the disruption caused by the blockade of the Strait of Hormuz amid the US-Israel and Iran conflict.
Rubio appeared before a US Congress hearing, where he stated that the US would like to end the waiver as soon as possible, citing the underlying policy of sanctioning Russian oil. The waiver was first announced in March and has been extended twice, with the latest extension set to expire on June 17.
India, among other countries, has benefited from the US waiver, allowing it to resume its purchase of Russian oil. However, the US has continued to push towards Venezuelan oil, and this is expected to be amplified with interim president Delcy Rodriguez's visit this week.
