Lena Petrova: Washington Reverses Course on Russian Oil with India as Energy Crisis Deepens

The recent decision by the United States to grant India a temporary 30-day waiver to continue importing Russian crude oil, despite earlier efforts to pressure India into halting such purchases, has sent ripples through the global energy markets. This move not only underscores the complex dynamics at play in the world of energy geopolitics but also highlights the significant challenges posed by rising inflation, geopolitical tensions, and supply chain disruptions. At the heart of this development is India’s position as the world’s third-largest crude importer, making it particularly susceptible to any disruptions in the Strait of Hormuz, a vital energy…