NEW YORK, May 14. /TASS/. Indian authorities have asked the US administration to extend the license to purchase oil from Russia, Bloomberg wrote, citing sources.

The US Department of the Treasury’s authorization for the sale, transportation, and unloading of oil and petroleum products of Russian origin expires on May 16, the agency said. Against this backdrop, New Delhi has warned Washington that oil supplies remain a priority for the Indian government, and continued volatility in the oil market will have widespread consequences.

In March, US authorities lifted sanctions on the sale of Russian oil and petroleum products loaded onto vessels before that date, a move that was subsequently extended and expanded. Washington took this step amid a surge in oil prices due to the fallout from the US war against Iran.