Washington DC, March 6 -- With the crisis in the Gulf severely hampering shipping routes that pass through the Strait of Hormuz, the United States on Thursday (local time) allowed a 30 day waiver for India to purchase Russian Oil to meet its energy requirements.

US Treasury Secretary Scott Bessent said, "President Trump's energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil alr...