US Secretary of State Marco Rubio said the US would like to end the general licence allowing countries to purchase Russian oil 'as soon as possible'. The decision would be made based on prevailing circumstances, according to Rubio.
The licence, which is set to expire in June, was intended to allow greater energy supplies to flow into the global market and ease prices.
However, the US Treasury's decision to extend the licence has been controversial, with US Senator Jeanne Shaheen arguing that it has significantly benefited the Russian economy and geopolitical rivals like China.
India has increased its energy purchases from Russia, with oil imports jumping by 23% to 1.9 million barrels per day in May.
