US grants waiver for Iranian oil sales to India
pre-market1 source ↓written by the desknot a recommendation
- of its oil
- 11.5%
- of Iranian oil
- 140 million barrels
The US Treasury Department issued a short-term waiver allowing crude oil loaded from Iran before 20 March to be sold until 19 April. This move aims to stabilize global energy supply amid rising geopolitical tensions. India, which previously imported about 11.5% of its oil from Iran, may regain a crucial crude source as it faces supply disruptions in the Strait of Hormuz. 🌍💼
• 140 million barrels of Iranian oil could enter the global market.
• India has recently increased purchases from Russia as well.
This waiver could significantly impact India's energy strategy and oil pricing in the near term.
Not investment advice. For informational purposes only.