Indian refiners are planning to resume buying Iranian oil after Washington temporarily relaxed sanctions to ease an energy crunch triggered by the ongoing US-Israeli war on Iran, according to a report by Reuters. US eased sanctions on Russian oil The latest sanctions waiver on Iranian oil follows a similar move by the Trump administration on Russian crude. Meanwhile, other Asian refiners are still making checks to see if they can purchase the oil, the report stated. Iranian oil also gets relief The Trump administration on Friday issued a 30-day sanctions waiver for the purchase of Iranian oil already at sea, US Treasury Secretary Scott Bessent said. Additionally, some former buyers of Iranian oil were contractually obligated to buy from National Iranian Oil Co., two people aware of the developments told the agency.

Source: Mint March 22, 2026 08:38 UTC