Several Asian countries are calling on the US not to renew sanctions against russian oil

Bloomberg reports this, citing sources.

In mid-March, the US suspended sanctions on the purchase of russian oil stranded at sea for 30 days. The decision was taken due to the war in the Middle East, which has led to a global fuel shortage. This exemption remains in force until 11 April.

Now India and the Philippines are trying to urge Donald Trump’s administration to use limited tools to increase oil availability, as governments around the world seek to curb the sharp rise in global energy prices. The oil market has remained extremely volatile since the US and Israel launched their military campaign, with prices still more than 30% higher than pre-war levels.

An Indian government spokesperson stated that New Delhi hopes for an extension of the exemption, but denied that the country is lobbying for concessions. At the same time, he acknowledged that India is purchasing large volumes of russian oil.

Source: Babel, Bloomberg