Indian Oil: No Fuel Shortage in India; US Grants Russia Oil Import Exemption for 30 Days

• Indian Oil Corp Ltd debunked social media rumors of petrol/diesel shortage, assuring sufficient fuel stocks and normal supply.
• The assurance comes amidst Middle East tensions, Strait of Hormuz issues, and 37 Indian-flagged ships being stranded.
• US Treasury Secretary Scott Bessent announced a 30-day exemption for India to import oil from Russia, even from sanctioned ships.
• This exemption, valid until April 3, applies to Russian ships with goods until March 5, aiming to stabilize global oil markets.
• The US considers India a crucial partner and took this step to help India avoid a 'fuel-shortage' situation.