US Grants India 30-Day Waiver to Purchase Russian Oil Amid Middle East Tensions

The United States has issued a temporary 30-day waiver allowing Indian refiners to purchase Russian oil stranded at sea amid escalating tensions in West Asia and disruptions in the Strait of Hormuz. US Treasury Secretary Scott Bessent emphasized that this short-term measure aims to stabilize global energy markets without providing significant financial benefit to Russia. The waiver reflects India's strategic partnership with the US, which expects India to increase purchases of American oil as part of broader energy cooperation.