Recent developments highlight the ongoing complexities of international oil sanctions and the geopolitical dynamics surrounding Russian oil amidst the backdrop of the Iran war. The US Treasury has extended waivers on Russian oil sanctions multiple times to accommodate vulnerable nations and manage rising energy prices. However, these waivers have faced scrutiny as the Biden administration contemplates further action against Russian energy. Concurrently, India continues to purchase Russian oil despite the fluctuating US sanctions, asserting its energy security needs. The situation remains fluid as the expiration of waivers raises concerns over potential fuel price increases.