US Grants India 30-Day Waiver to Purchase Russian Oil Amid West Asia Energy Disruptions

The United States has issued a temporary 30-day waiver allowing Indian refiners to purchase Russian crude oil stranded at sea amid escalating tensions in West Asia and disruptions in the Strait of Hormuz. US Treasury Secretary Scott Bessent emphasized this short-term measure aims to stabilize global energy markets without significantly benefiting Russia financially. While the Indian government welcomed the waiver as vital for energy security, opposition parties questioned India's sovereignty, criticizing the need for US permission. Indian refiners have already begun acquiring Russian oil cargoes, and the waiver is expected to ease supply pressures and support market stability during the ongoing geopolitical crisis.