US Temporarily Approves Russian Oil at Sea to Stabilize Global Market, Impacting India

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US allows temporary Russian oil purchase to stabilize global market; India impacted

US allows temporary Russian oil purchase to stabilize global market; India impacted

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CNBC Awaaz•13-03-2026, 07:33

US allows temporary Russian oil purchase to stabilize global market; India impacted

•US temporarily approves buying Russian crude oil already shipped at sea.
•Aims to ease global supply pressure and prevent price surges amidst Iran war.
•Decision applies to oil loaded before March 12, 12:01 AM ET, valid until April 11.
•Approximately 124 million barrels of Russian oil are currently at sea.
•Expected to stabilize crude prices, potentially benefiting countries like India.

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