New Delhi, March 6 -- The United States Treasury Department on Thursday said it had granted a 30-day waiver to India to purchase Russian oil as New Delhi navigates ways to navigate an oil supply crunch triggered by the Middle East conflict.

US Treasury Secretary Scott Bessent made the announcement in a post on X, saying that the decision was made to enable oil to keep flowing into the global market.

"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," he said.

Bessent noted that the decision will only allow purchase of Russian oil stuck at sea.

"This deliberately short-term measure will not provide significant financial be...