As Energy Prices Rise, U.S. Green-Lights India's Purchases of Russian Oil
Under pressure to control oil prices amidst a closure of the Strait of Hormuz, the White House is backtracking on its efforts to pressure India into refusing Russian oil. In hopes of easing supply concerns, it is giving New Delhi temporary permission to increase the use of already-afloat Russian crude. "The waiver effectively acts as a green signal" for India to buy Russian oil at scale, Kpler analyst Sumit Ritolia told the Times. The newly-promulgated rule from the Office of...
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