The US has reversed its earlier decision and extended the sanctions waiver for purchasing Russian oil until May 16, 2023. This extension allows India, the world's third-largest crude oil consumer, to continue importing significant volumes of Russian crude amidst supply disruptions from West Asia. The waiver was initially set to expire on April 11, but pressure from countries reliant on Russian oil has prompted this extension. Industry experts suggest that this move aims to stabilize global oil supplies and mitigate rising prices ahead of the US midterm elections. Indian refiners have ramped up imports of Russian oil, which accounted for 44.4% of India's total oil imports in March 2023, nearly doubling from 1 million barrels per day (bpd) in February to 2 million bpd. The waiver also allows Indian companies to engage with sanctioned Russian firms like Rosneft and Lukoil without facing US penalties, easing tensions between Washington and New Delhi regarding India's energy purchases. Despite the ongoing war in West Asia, Russia remains a crucial supplier for India, which relies on imports for over 88% of its oil needs.