India, April 18 -- In a reversal of its earlier position, the administration of Donald Trump renewed a sanctions waiver that allows countries to continue purchasing Russian oil and petroleum products transported by sea, extending the relief for about another month. India have been among major beneficiaries of these waivers.

The US treasury department posted the updated license late Friday local time, permitting transactions involving Russian oil loaded onto vessels from that day through May 16.

The move comes just two days after Trump's treasury secretary Scott Bessent had publicly indicated there were no plans to extend such waivers.

"We will not be renewing the general license on Russian oil and we will not be renewing the general li...