Kamal Ghorui
NEW DELHI: The Congress on Friday launched a sharp attack on PM Modi, accusing him of “trading away India’s honour and dignity” over reports that India has sought an extension from the US to continue importing Russian oil amid ongoing global energy disruptions.According to reports, the current US authorisation allowing India to import Russian crude is set to expire on May 16. The waiver was first approved in March and later expanded to help stabilise global oil markets by allowing additional crude supplies.India has reportedly approached Washington seeking an extension as disruptions in the Strait of Hormuz continue to strain global energy supplies. Indian officials have also told the US that securing stable energy supplies remains a priority and warned that prolonged volatility in oil markets could have wider economic consequences.Also read | India asks US for waiver on Russian oil as Iran war squeezes energy supply: ReportReacting to the developments, the Congress accused the Modi government of compromising India’s sovereignty and energy security.“The Modi government’s capitulation on the country’s energy security before America is a price the entire nation is paying through crippling shortages of petrol, diesel, and gas. First, the Modi government stopped buying cheap oil from Russia at America’s behest. Then, in the midst of the war, America granted India a ‘waiver’ to buy oil from Russia, which expires on 16 May.”“Now, once again, instead of taking a decision in the national interest itself, the Modi government is grovelling before Trump, begging for permission to buy oil from Russia,” it added.While Russian oil is not under blanket sanctions, the United States has repeatedly urged India to reduce discounted purchases from Moscow as part of efforts linked to the Ukraine war, Bloomberg reported.India’s imports of Russian crude have continued at elevated levels as refiners accelerated purchases ahead of the waiver deadline. According to Kpler data, inflows in May have reached 2.3 million barrels per day, supported by provisions allowing already-loaded cargoes to continue arriving. Kpler estimates monthly inflows could still average around 1.9 million barrels per day.In April, the US Treasury Department extended the sanctions waiver on Russian oil, allowing the purchase of Russian crude and petroleum products that had already been loaded onto ships by that date. The exemption will remain valid until 12:01 am (0401 GMT) on May 16, replacing an earlier waiver that expired on April 11.Meanwhile, Reuters reported that India declined Russia’s offer to supply liquefied natural gas (LNG) cargoes that fall under US sanctions despite rising energy pressures linked to tensions in the Middle East. The decision reportedly left at least one Russia-linked LNG shipment stranded near Singapore while talks continue over permitted supplies.
