US SANCTIONS ON RUSSIAN OIL
Hormuz traffic at standstill as US vessel seizure widens risk
Commercial traffic in the Strait of Hormuz has halted again. This follows a brief reopening over the weekend which ended with the US seizing an Iranian ship. This action has raised concerns for shipowners. Benchmark oil prices have jumped. A fragile US-Iran ceasefire is set to expire soon.
India expands Russian marine insurance options
India has increased the number of Russian insurers authorized to provide marine cover for ships docking at its ports. This move allows more Russian companies to offer protection and indemnity coverage. The expanded list includes several Russian firms with registrations valid until 2026, 2027, 2029, and 2030.
Kirill Dmitriev says new US waiver to hit 100 mln barrels of Russian oil
A U.S. waiver allowing countries to buy sanctioned Russian oil at sea has been extended for another month. This extension will affect an additional 100 million barrels of Russian oil. The total volume impacted by waivers now stands at 200 million barrels. Kirill Dmitriev, a special envoy, noted active political opposition to the waiver's extension.
'Shameful, 180-degree reversal': US Senate Democrats slam Trump administration for extending waiver on Russian oil
Senior Democratic lawmakers in the US Senate on Friday (local time) sharply criticised the Trump administration for extending a waiver that allows the continued sale of sanctioned Russian oil, calling the move a "shameful" policy reversal.
US extends waiver allowing India and other countries to buy Russian oil
The Donald Trump administration has issued a short-term waiver allowing countries to continue buying sanctioned Russian oil loaded on ships until May 16, aiming to stabilise global energy prices amid the US-Israeli war on Iran.
US move on Russian oil waiver adds pressure as Iran war strains energy markets, India engaged in talks: Sources
India faces a tougher energy market as the US will not extend waivers for Russian oil imports. This decision impacts countries already struggling with the Hormuz crisis. Russia has assured India of continued energy supplies, including crude oil, LPG, and LNG. India's oil imports from Russia have significantly increased, making it a key market for Moscow.
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Indian refiner Reliance rejects Iran oil cargoes as waiver deadline looms
Reliance Industries has rejected two Iranian oil cargoes. This comes just before a U.S. waiver on Iranian oil exports expires. Washington will not renew these waivers. India had allowed Reliance to buy Iranian oil on several sanctioned tankers. Reliance stated the Derya tanker cargo did not meet compliance requirements. Indian Oil Corp recently bought Iranian crude.
Indian refiners pay for Iran oil in yuan via ICICI Bank, sources say
Indian refiners are making payments for Iranian oil using Chinese yuan. This is happening through ICICI Bank's Shanghai office. Indian Oil and Reliance have bought shipments under a temporary U.S. sanctions waiver. This payment method has not been previously reported. India has also used yuan for Russian oil. The U.S. waiver on Iranian oil is set to expire soon.
India's crude imports down 21%; Russia tops, Iran gains
Iran supplied about 4 million barrels in April, or 7% of total imports, resuming shipments to India after seven years. However, a US naval blockade of Iranian ports, currently underway, could constrain further supplies this month.
India-China energy cooperation doesn't require warm relations, or lofty civilisational rhetoric
India and China face a new opportunity in energy markets. Past cooperation in Africa, despite challenges, shows potential. Both nations seek stable energy imports, bypassing geopolitical risks. This shared need can drive future joint ventures. New energy projects in Africa could form a strong foundation for collaboration. This pragmatic approach is vital for securing energy supplies.
Why are oil and gas prices up today, and will Brent, US WTI crude futures, Dutch and British gas rates continue to rise or drop again? Analysts insights, market outlook and what should investors do now
Why are oil and gas prices up today, and will Brent, US WTI crude futures, Dutch and British gas rates continue to rise or drop again? Energy markets reacted to Middle East conflict risks, Hormuz disruption, falling US inventories, and shifting gas supply signals. Analysts say prices may stay volatile as geopolitics, exports, storage levels, and investor positioning continue to drive global oil and gas trends.
Russia launches massive drone, missile barrage on Ukraine, at least 16 dead
Russia launched one of its largest recent aerial assaults on Ukraine, firing nearly 700 drones and multiple missiles in strikes that killed at least 16 people and injured over 80, officials said. The hours-long barrage hit cities including Kyiv, Odesa and Dnipro, with Ukrainian air defences intercepting most incoming targets but several strikes causing civilian casualties and damage. President Volodymyr Zelenskyy urged continued Western support for air defence systems, warning against easing pressure on Moscow as attacks on civilian areas persist.
India may get a crude hit from Trump's curbs on Russian & Iranian oil buying freedom
The United States has ended sanctions waivers that allowed countries, including India, to buy Russian and Iranian oil without penalties, a move that could tighten global supplies and pressure Indian refiners. US Treasury Secretary Scott Bessent confirmed the decision, saying the temporary licenses for Russian and Iranian crude would not be renewed.
US-sanctioned supertankers enter Gulf despite blockade
A second U.S.-sanctioned supertanker has entered the Strait of Hormuz despite Washington’s blockade on vessels linked to Iranian ports, raising questions over enforcement. The move comes amid stalled U.S.-Iran talks, with Iran continuing crude exports near recent levels.
US Senate rejects measures on limiting Trump's war powers in Iran for the 4th time: Reports
The Senate rejected a proposal to curb President Trump's war powers regarding Iran for the fourth time this year. Meanwhile, the US Treasury warned of secondary sanctions on Chinese institutions facilitating Iranian financial flows. President Trump also claimed China committed to halting weapon supplies to Iran.
From dropping bombs to pressuring banks: US pivots to economic warfare on Iran
The Trump administration is shifting its Iran strategy towards economic pressure, threatening secondary sanctions on countries doing business with Tehran. Treasury Secretary Scott Bessent stated these moves are the "financial equivalent" of a bombing campaign, aiming to choke Iran into submission. This escalation targets entities like Chinese banks and warns allies like the UAE, as the U.S.
US ends sanctions waiver for Russian, Iranian Oil; India among affected buyers
US Treasury Secretary Scott Bessent on Wednesday confirmed Washington will not renew sanctions waivers on Russian and Iranian oil, ending temporary relief that had allowed countries including India to purchase crude from both nations without facing US penalties.
US announces new sanctions on Iranian oil as it holds Hormuz 'hostage'
The United States is intensifying sanctions on Iran's oil industry, targeting over two dozen individuals, companies, and ships linked to petroleum magnate Mohammad Hossein Shamkhani. This action aims to curb Iran's revenue generation as it continues to blockade the Strait of Hormuz amid the ongoing Middle East war.
US warns that buyers of Iranian oil could be hit with sanctions
The United States warned it will impose secondary sanctions on buyers of Iranian oil as it enforces a maritime blockade, saying China may halt purchases. Treasury Secretary Scott Bessent said banks handling Iranian funds risk penalties, while Washington intensifies pressure on Tehran’s oil exports and global energy networks.
Russian LNG under US sanctions heads for the first time to India
A Russian liquefied natural gas cargo, currently under United States sanctions, is en route to India. This shipment, if it reaches its destination, would mark the first such delivery to India since former US President Donald Trump stated India would cease buying Russian energy. India has not confirmed this pledge.
Why are oil and gas prices witnessing wild swings, and will Brent crude futures, US WTI crude, Dutch and British wholesale gas prices rise or fall again? Analysts insights, market outlook and what should investors do now
Why are oil and gas prices witnessing wild swings, and will Brent crude futures, US WTI crude, Dutch and British wholesale gas prices rise or fall again? Oil and gas markets are moving as traders track US-Iran talks, Strait of Hormuz closure, supply risk, and inventory data. Prices show mixed movement after sharp falls. Gas prices in Europe dropped slightly as risk premiums eased. Analysts say diplomacy and supply restrictions will decide the next price trend for crude and gas markets.
Iranian oil arrives in India just ahead of US waiver expiry
India has received Iranian oil shipments. This marks the first imports in seven years. The nation is securing volumes before a US grace period ends. Tankers are discharging crude on India's east and west coasts. This move aims to manage global energy flow disruptions. India is leveraging waivers for previously restricted oil.
Oil prices fall for a second day on expectations US-Iran talks may resume
Oil prices dropped for a second day. Hopes for peace talks between the US and Iran are rising. This could lead to more oil supply. The Strait of Hormuz remains closed. US President Donald Trump mentioned potential talks in Pakistan. This has boosted optimism for resolving the conflict and reopening oil flows. Markets await US inventory data.
US Treasury says not renewing temporary Iran oil sanction easing
The US Treasury Department said Tuesday it does not plan to renew a temporary easing of sanctions on Iranian oil that aimed to ease war-related supply shocks. The temporary easing on Iranian oil previously was part of a series of measures launched by the Trump administration to quell skyrocketing energy prices following the start of the war on February 28, including a similar easing of sanctions on Russian oil at sea.
India's Russian oil imports more than triple to 5.3 billion euro in March
India’s crude oil imports from Russia surged in March, with purchases tripling to €5.3 billion as volumes doubled and prices rose, according to Centre for Research on Energy and Clean Air. The spike followed a US sanctions waiver, prompting state refiners to resume buying. Russia remained India’s top supplier, while China led overall purchases. Asian markets continued to dominate Russian oil exports.
Ukraine strikes on Russian oil ports put India’s refining lifeline at risk, IEA warns
Ukraine’s drone strikes on key Russian oil ports — Primorsk, Ust-Luga and Novorossiysk — are threatening India’s crude supply chain, with the International Energy Agency warning of potential disruptions to refining operations. With about 80% of India’s Russian imports routed through these hubs, any prolonged outage could tighten feedstock availability, even as reliance on discounted Russian crude has surged and alternative supplies remain limited.
Tankers pass Strait of Hormuz on first day of US blockade, data shows
A third Iran-linked tanker entered the Gulf today. This occurs on the first full day of a US blockade on ships going to Iranian ports. The vessels are not heading to Iran, so they are not affected. Two other sanctioned tankers have already passed through the strait.
Bangladesh eyes India route to refine Russian crude amid supply crunch
Bangladesh is looking to refine Russian crude oil in India. This move aims to overcome fuel supply issues caused by the West Asia conflict. Bangladesh will cover all costs for crude import, refining, and fuel transportation. The country's own refinery is not suitable for Russian crude. This plan could boost diesel imports from India.
US' Russian oil waiver set for an extension
US Treasury Secretary Scott Bessent met with Trump in the White House on Thursday to talk about extending the waiver, and they agreed it was a good idea, one of the sources said, asking not to be named. Officials at the White House and Treasury Department did not immediately comment on the matter. Oil prices have spiked since the start of the war due to the partial closure of the Strait of Hormuz.
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