Strait of Hormuz crisis: US waiver puts 19 m barrels of Russian oil back on market

2026-03-13 - 07:13

A US waiver now permits the purchase of Russian oil cargoes already at sea, releasing nearly 30 tankers carrying millions of barrels of crude and refined products into the market. This move offers crucial breathing room for nations grappling with supply disruptions near the Strait of Hormuz, as China and India continue to acquire discounted Russian fuels.