US Grants 30-Day Waiver for Indian Purchase of Stranded Russian Oil
The Treasury Department has issued a temporary waiver allowing Indian refiners to acquire Russian oil currently stuck at sea. This move aims to stabilize global energy markets and alleviate ongoing supply chain pressures.
1 post, 1 article·March 6 – March 6, 2026
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US grants waiver to allow India to buy Russian oil amid Iran war
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President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. 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. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea. India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage.
Treasury Secretary Scott Bessent on x