India keeps Russian oil imports strong after US waiver extension
Business
India is keeping its Russian oil imports strong this spring, after the US extended a special waiver.
In March, half of India's total oil imports came from Russia, about 2.25 million barrels per day, even as the US imposed sanctions on Russian oil.
India expands Russian marine insurers list
The US waiver is meant to help steady global energy markets shaken by recent conflicts.
Despite a brief supply dip in April due to drone strikes, Indian refineries quickly locked in their May shipments, even paying $7 to $9 more per barrel than Brent prices.
To keep things running smoothly, India also expanded its list of approved Russian marine insurers so shipments stay covered and reliable, meaning for now, those oil flows aren't slowing down.