India has formally sought a U.S. waiver to continue importing Russian LNG and crude amid the ongoing Iran war that has disrupted Gulf energy supplies. Verified reports confirm that Russian crude could rise to 40% of India’s monthly imports, while New Delhi and Moscow are discussing resumption of LNG trade.
On March 9, 2026, the U.S. Treasury Department granted India a temporary 30-day waiver to import stranded Russian crude cargoes from Rosneft and Lukoil. This comes as the Strait of Hormuz remains effectively closed due to escalating U.S.-Iran conflict, severely impacting global oil and LNG flows. India is now negotiating with Washington for broader waivers to secure long-term Russian LNG supplies.
Energy Security Context
U.S. Waiver: India received a one-month waiver to import Russian crude stranded at sea
Russian Crude Share: Could double from January levels, reaching at least 40% of India’s monthly imports.
LNG Trade Talks: India and Russia are discussing resumption of LNG trade to offset Gulf supply disruptions.
Strategic Impact
Strengthens India-Russia energy cooperation amid Middle East instability.
Reduces reliance on Gulf suppliers, diversifying India’s energy mix.
Enhances India’s bargaining position in global energy diplomacy.
Industry Implications
Oil Prices: Rising crude costs threaten inflationary pressures in India.
Energy Mix: LNG imports from Russia could stabilize long-term supply.
Diplomatic Balance: India must manage ties with Washington while deepening energy links with Moscow.
Key Highlights
• India seeks U.S. waiver to buy Russian LNG
• Russian crude could rise to 40% of India’s monthly imports
• India and Russia discuss resuming LNG trade amid Gulf disruptions
• U.S. granted India a temporary waiver for stranded Russian cargoes
• Iran war continues to disrupt Strait of Hormuz energy flows
Sources: Reuters, Business Standard, The Hindu