
US to End Sanction Waiver on Russian Oil : Amid the ongoing military conflict between the US and Iran, a worrying news has come out about the global oil and gas market. The US is soon going to lift the relaxation of sanctions on the purchase of Russian crude oil.
US Secretary of State Marco Rubio has given clear indications in this regard during a recent congressional hearing. India has been the biggest beneficiary of this US relief, as it resumed importing crude oil from Russia only after receiving this concession. Now with the end of this concession, the crude oil import crisis for India may once again increase.
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