US sanctions waiver on Iranian oil opens major opportunities for Asian refiners facing energy crunch. Indian refiners plan to resume purchases of Iranian crude while awaiting government clearance and payment term details from Washington. The temporary 30-day waiver, issued by the Trump administration, applies to approximately 170 million barrels already at sea, with about 130 to 140 million barrels currently floating from the Middle East Gulf toward China. This represents less than two weeks of current production losses in the region. Asian refiners are examining whether they can participate in these purchases as the Strait of Hormuz near-closure continues forcing refineries across Asia to operate at reduced capacity. India, which maintains smaller crude stockpiles than other major Asian importers, has already moved to book Russian oil supplies following the sanctions lift.
