A move that is likely to impact India, the US has said it is not planning to renew a waiver to allow countries procure Russian and Iranian oil, and petroleum products at sea.US Treasury Secretary Scott Bessent on Friday said the US did not plan to renew a waiver allowing the purchase of Russian oil and petroleum products that are currently at sea.Washington’s move of not renewing the waiver is expected to have an impact on New Delhi, which is one of the biggest buyers of Russian oil.A European think tank, said India bought crude from Russia in March worth over 5.3 billion euros. “India was the second-highest buyer of Russian fossil fuels in March 2026, importing a total of 5.8 billion euro worth of Russian hydrocarbons. Crude oil products constituted 91 per cent of India’s purchases,” a report by Centre for Research on Energy and Clean Air said.Bessent said, “We have the blockade, and there’s no oil coming out.”