India's imports of Russian crude oil could come under renewed pressure after the Trump administration indicated that waivers allowing such purchases may not continue indefinitely as global oil markets stabilise.
Speaking during a visit to Bahrain, US Secretary of State Marco Rubio said the option of ending Russian oil waivers remains on the table, although the final decision rests with President Donald Trump.
Rubio said Trump would take prevailing market conditions into account before deciding whether to extend or terminate the waivers. With crude oil prices easing from recent highs, the administration may have greater room to tighten restrictions without significantly disrupting global energy markets.
Driven by ongoing conflict and subsequent supply disruptions in West Asia, Indian refiners continue to heavily leverage discounted Russian crude. According to preliminary vessel-tracking data from Kpler, India's oil imports from Russia are on track for a record high in June, averaging 2.6 million barrels per day, accounting for 53.5% of the nation's total crude imports for the month so far.
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The Trump administration has previously suggested that sanctions decisions would be calibrated to avoid triggering sharp spikes in global oil prices. However, the recent decline in crude prices could reduce concerns over supply disruptions, potentially paving the way for stricter enforcement measures.
While no final decision has been announced, Rubio's remarks indicate that Washington continues to keep the option under active consideration.
Separately, Rubio said the United States was making encouraging progress in diplomatic efforts to reduce tensions between Israel and Lebanon.
Speaking to reporters, he said Israel and Lebanon were close to reaching a "commitment of intent" under US-mediated negotiations aimed at easing hostilities along the border.
"I think we are very close in our hopes of getting a commitment of intent between the two countries," Rubio said.
The negotiations are part of broader US diplomatic efforts to stabilise the Middle East following months of conflict involving the Iran-backed Hezbollah group.
Rubio added that Gulf leaders had expressed "serious concerns" during his regional tour, highlighting the importance of maintaining stability across the region as negotiations with Iran continue.
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