New Delhi, March 6 -- The United States has granted a 30-day waiver allowing India to purchase Russian oil as disruptions to shipping routes through the Strait of Hormuz hamper energy supplies amid the escalating Gulf crisis.
Announcing the move on Thursday (local time), US Treasury Secretary Scott Bessent said 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 authorises transactions involving oil already stranded at sea.
India is an essential partner of the United States, and we fully anticipate that New...