US extends discount on purchase of Russian oil for one month, big relief for many countries including India

Russia Oil Purchases : The US has extended the exemption from sanctions on the purchase of Russian petroleum products by one month. The exemption from restrictions on deliveries and sales of Russian oil will be valid from April 17 to May 16, 2026. America has given relaxation on sanctions, so that the country can buy petroleum products from Russia. This decision has come at a time when, just a few days ago, America had said not to extend this special exemption.

Read :- Iran completely opened Strait of Hormuz after 49 days, US President Donald Trump said thanks

The US Treasury Department issued an order late on Friday night, under which the exemption from sanctions on Russian oil has been extended till May 16. The exemption will apply to Russian oil that was at sea (in shipment form) on or before April 17. Earlier, the US had exempted India from sanctions on buying Russian oil for a month starting from March 5. A few days later, similar relaxations were extended to several other countries, which expired on 11 April.

A month’s exemption from sanctions on the purchase of Russian oil amid the conflict in West Asia is a big relief for many countries including India, as tension has once again started increasing due to the US blockade on the Strait of Hormuz. Iran has warned that it will also retaliate if the US blockade of its ports continues.