The United States has granted India a temporary 30-day waiver to purchase Russian oil. The decision comes amid rising tensions in West Asia that have disrupted energy markets worldwide. US Treasury Secretary Scott Bessent announced the relief, allowing Indian refineries to continue importing Russian crude and petroleum products. The U.S. Department of the Treasury said a special license has been issued permitting the supply and sale of Russian oil loaded on ships from March 5, 2026, to be delivered to India.
The waiver will remain valid until April 3, 2026, and mainly applies to shipments that were already stuck at sea due to sanctions. In a post on X, Bessent said the move aligns with the energy agenda of Donald Trump to ensure steady oil flows to global markets. He emphasized that the short-term relief would not bring significant financial gains to Russia, as it only covers previously delayed shipments. Bessent also highlighted that India remains an important partner for the US and expressed confidence that India would increase imports of American oil in the future. The measure is also expected to ease pressure in global markets amid disruptions linked to Iran and broader geopolitical tensions.
