Brief by Shorts91 Newsdesk / 03:56am on 16 Apr 2026,Thursday India Global
The United States will not renew sanctions waivers allowing limited purchases of Russian and Iranian oil, affecting buyers including India. Treasury Secretary Scott Bessent said the licence covering shipments loaded before March 11 has expired. Washington also warned of secondary sanctions on countries continuing Iranian oil imports, amid efforts to intensify economic pressure on Iran. Disruptions linked to the Strait of Hormuz have already strained supply chains. While India maintains diversified sourcing and adequate reserves, tighter restrictions could pressure markets. The move signals a shift toward aggressive financial measures alongside diplomacy as both sides prepare for further negotiations. (PC: India Today)
