Washington (HRNW)- The United States has announced the end of a temporary exemption granted to India for purchasing oil from Russia, signaling a shift in its sanctions policy.
According to reports, despite the expiration of the exemption, Indian refineries have already placed orders for approximately 30 million barrels of Russian oil.
The US Treasury Secretary stated that the deadline for concessionary oil deals made before March 11 has now expired, and no new exemptions will be provided.
US officials clarified that while India will not be allowed to enter into new agreements with Russia, it may still receive shipments that are already in transit.
Analysts say the decision could have significant implications for India’s energy strategy and may also impact global oil markets, which are being closely monitored.
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