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The United States granted India a 30-day waiver to purchase Russian oil, a move declared by U.S. officials. In India, the ruling BJP party called the waiver a success for Prime Minister Modi's strategic oil diplomacy. The opposition Congress party criticized the move, with some calling it a sign India is mortgaged to American interests. Indian refiners like HPCL are resuming purchases of prompt Russian oil, and several Russian oil tankers are being redirected to Indian ports.
The United States granted an indefinite sanctions exemption to Rosneft's German refinery network, removing the German division of the Russian state-owned oil company from sanctions restrictions. This action comes amid broader discussions about potential adjustments to sanctions on Russian oil. In a separate enforcement action, Belgium seized a Russian 'shadow fleet' tanker in the North Sea suspected of being part of Russia's efforts to circumvent oil sanctions. Separately, Russia's central bank is suing the EU in Luxembourg over frozen assets.
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7 topics | 237 sources
Mar 14 — Mar 24
US eases Russian oil sanctions as EU enforces them, seizing shadow fleet tankerThe United States has taken steps to ease sanctions on Russian oil, granting exemptions to Rosneft and India, while European nations like Belgium are actively enforcing sanctions by seizing Russian shadow fleet tankers in the North Sea. This divergence highlights differing approaches within the Western alliance regarding pressure on Russia's energy sector. From Russia's perspective, these developments represent both opportunities for continued oil revenue through exemptions and ongoing challenges from European enforcement actions.
Mar 16