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Reliance Shares Climb 2.5% as India Secures US Waiver for Russian Oil
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Reliance Shares Soar 2.5% as US Grants India 30-Day Waiver for Russian Oil
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Moneycontrol
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06-03-2026, 18:06
Reliance Shares Soar 2.5% as US Grants India 30-Day Waiver for Russian Oil
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Reliance Industries shares rose 2.5% after US Treasury issued a 30-day waiver for Indian refiners to buy Russian oil.
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US Secretary Scott Bessent announced the temporary waiver to stabilize global energy markets amid Middle East tensions.
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The waiver is "deliberately short-term" and for oil "already stranded at sea," limiting financial benefit to Russia.
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The move comes as Strait of Hormuz faces disruptions following US and Israeli strikes on Iran.
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US considers India an "essential partner" and expects New Delhi to increase purchases of US oil.
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