U.S. allows India to buy Russian oil for a month
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March 6 (Reuters) - Russian flagship Urals oil is selling at a premium to the Brent international benchmark at delivery in Indian ports for the first time ever, fuelled by rising demand due to the Iran war,
The move is intended to ease pressures on the country's oil supplies in the short term. Meanwhile, day two of the Raisina Dialogue 2026 has commenced in New Delhi. Follow live.
Temporary licence allows Indian refiners to purchase Russian crude already at sea as tensions in the Middle East disrupt global energy markets
With shipping via Strait of Hormuz restricted, international oil prices are spiking. Industry experts see the move as part of Donald Trump’s effort to prevent an additional and sustained spike, given the mid-term elections in the US later this year.
With the Strait of Hormuz closed, Russia is ready to divert 9.5 million barrels of oil to India. Learn how New Delhi is securing its energy future amid regional conflict.
Russia has offered to fully meet India’s energy needs if Middle East tensions disrupt oil and gas supplies, after QatarEnergy halted LNG production following Iranian drone strikes.
Russia reports India's renewed interest in larger crude oil imports amid Strait of Hormuz disruptions. Moscow sees this as a chance to reduce discounts to Asian buyers. India, however, assures sufficient reserves and diversified sourcing,
With tensions in West Asia threatening global oil supplies, Russia has offered to step in with energy support for India, as per a Russian source quoted by Reuters.