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

The United States has issued a temporary 30-day waiver allowing Indian refiners to purchase Russian oil cargoes stranded at sea amid escalating tensions in West Asia and disruptions in the Strait of Hormuz. US Treasury Secretary Scott Bessent emphasized the measure is short-term and will not significantly benefit Russia financially. The waiver aims to stabilize global energy markets while expecting India to increase purchases of US oil. The move has drawn criticism from Indian opposition parties questioning national sovereignty, while Indian refiners, including Reliance, have begun securing Russian crude to mitigate supply risks.