The United States has ended a key sanctions waiver that previously allowed certain countries to continue buying Russian seaborne oil. The decision raises major questions for global energy markets, India’s oil imports, Russia’s export revenues, and fuel prices worldwide. In this edition of World Business Watch, we break down what the end of the waiver means for India, Russia, and the U.S., and whether global oil markets are heading toward fresh volatility.

Washington Lets Key Russia Oil Exemption End 

A new report by the Centre for Research on Energy and Clean Air says Russia’s crude exports remain about 6 per cent above pre-2022 invasion levels, with 93 per cent going to China, India and Turkey.

India remains key buyer of Russian oil as Moscow's crude exports stay above pre-Ukraine war levels: Report

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Washington Lets Key Russia Oil Exemption End

India remains key buyer of Russian oil; Moscow's exports above pre-war levels