Business & Economics

Hormuz Shutdown Forces Gulf Crude Reroutes and U.S. Waiver for Russian Barrels

Since mid-March 2026, the three-week closure of the Strait of Hormuz has pushed Saudi and UAE producers to send millions of barrels through west-bound pipelines while Washington issued a 30-day sanctions waiver so India and others can buy Russian oil already afloat, abruptly reshuffling global crude flows.