US Grants India 30-Day Waiver to Purchase Russian Oil at Sea

The United States Department of the Treasury has issued a temporary, 30-day waiver permitting Indian refiners to purchase Russian oil that is already loaded onto tankers at sea. The move is aimed at stabilizing global energy markets.

US Treasury Secretary Scott Bessent announced the decision, framing it as a short-term measure to ensure the continued flow of oil. He stated that the waiver is explicitly designed not to provide significant financial benefit to the Russian government, as it only authorizes transactions for crude already in transit on the water.

Secretary Bessent linked the action to broader geopolitical tensions, suggesting it would alleviate pressure caused by what he described as Iran's attempt to seize control of the global energy market. He also noted that President Trump's energy policies have resulted in record levels of US oil and gas production.

In his announcement, Bessent expressed hope that India, as a key US partner, would increase its purchases of American crude oil in the future. The waiver represents a calibrated exception to sanctions pressure, seeking to balance market stability with strategic objectives.