The US announced it will not renew sanctions waivers that had allowed limited purchases of Iranian and Russian oil, a move likely to tighten India’s energy supply. US Treasury Secretary Scott Bessent said a 30-day waiver on Iranian oil shipments at sea expires this week and the general license on Russian oil will not be renewed. The decision marks an end to the previous US practice of granting waivers to boost global oil supply and ease prices.
India, the world’s fourth-largest economy and the third-biggest oil importer, imported crude from more than 40 countries, and had bought Iranian oil in March for the first time since 2019 after a temporary US waiver. New restrictions increase uncertainty for fuel and gas markets and risk higher energy costs for consumers and industry.
The squeeze comes amid broader disruptions tied to the Iran war. Closure risks in the Strait of Hormuz and regional instability have already affected shipping routes and supplies, contributing to rising airfares and operational challenges for India’s fast-growing aviation sector. Airlines are facing longer routes and higher costs, translating into fare increases for passengers.
Agriculture is also being hit. Fertilizer shortages linked to the Iran conflict and supply-chain disruptions have put pressure on small-scale farmers, threatening crop yields and livelihoods. Separately, domestic gas shortages have driven households and businesses back to more polluting fuels, raising pollution and health concerns.
Political fallout at home: Parliament special session
The government convened a three-day special session of Parliament to push a legislative package aimed at implementing a 2023 law reserving one-third of seats for women in the Lok Sabha and state assemblies by the 2029 elections. The package includes three bills:
– The Constitution (One Hundred and Thirty-First Amendment) Bill, 2026, proposing to increase Lok Sabha seats from 543 to around 850 (about 815 from states, 35 from Union Territories).
– The Delimitation Bill, 2026, to set up a Delimitation Commission to redraw constituencies and reallocate seats based on the latest census (ending the current freeze tied to the 1971 census).
– The Union Territories Laws (Amendment) Bill, 2026, to extend the one-third women reservation to legislative assemblies of Union Territories, including Delhi, Jammu & Kashmir, and Puducherry.
The constitutional amendment requires a two-thirds majority; the other bills need a simple majority. Prime Minister Narendra Modi advocated the measures as boosting women’s participation and “providing a new direction” in governance, saying the process would not do injustice to any state.
Opposition parties welcomed the women’s quota in principle but accused the government of linking it politically to delimitation to advantage the BJP. The INDIA bloc resolved to vote against the delimitation provisions. Protest actions included Tamil Nadu Chief Minister M K Stalin burning a copy of the delimitation bill in protest, and senior opposition leaders called the linkage “politically motivated.”
Other major developments
– International visits and diplomacy: South Korean President Lee Jae-myung will make a state visit to India April 19–21, his first, meeting Prime Minister Modi and other leaders to discuss trade, shipbuilding and AI. Austrian Chancellor Christian Stocker visited New Delhi for talks with Modi on trade, green energy, and high-technology cooperation. Russia’s Vladimir Putin is expected to attend the BRICS summit in India later this year, with reports suggesting dates around September 12–13.
– Bilateral deals and partnerships: Modi and visiting leaders discussed expanding cooperation in technology, investment, and green energy; the India-Austria relationship was highlighted as a growing partnership.
– Domestic incidents: At least eight pilgrims were killed and a dozen injured in a road collision in Andhra Pradesh’s Kurnool district; Prime Minister Modi expressed condolences and announced compensation for victims’ families.
Outlook
The US decision on waivers tightens an already fragile energy environment for India, with immediate implications for fuel prices, aviation costs, and supplies of critical agricultural inputs like fertilizers. Political debate over structural electoral changes continues to intensify, with the government pressing reforms tied to women’s reservation while the opposition accuses it of electoral maneuvering. International diplomacy remains active, with high-profile visits and the upcoming BRICS summit reinforcing India’s central role in global and regional discussions.