Indian Oil Refineries has reportedly secured the purchase of approximately 60 million barrels of Russian oil to be delivered in April. Bloomberg reported that the cargoes were snapped up at premiums between $5 and $15 per barrel, citing an unnamed source. The surge in buying was enabled by the 30-day US-Treasury waiver allowing India to take delivery of Russian oil. The purchase was intended to make up for the energy scarcity, as the war in West Asia continues to disrupt the energy flow to India and other Southeast Asian countries.