In response to escalating tensions in the Middle East and ongoing attacks on Iran, the United States has granted Indian refiners a 30-day temporary waiver for Russian oil purchases. This exemption specifically applies to transactions for oil already in transit on the high seas. U.S. Treasury Secretary Scott Bessent announced the decision on X, noting that the move ensures global energy flows remain stable despite disruptions in the Strait of Hormuz, where nearly 50% of India’s crude imports pass. The waiver reflects a pragmatic approach to energy diplomacy, prioritizing market stability while limiting Moscow’s financial gains.
US Grants India 30-Day Waiver for Russian Oil Amid Iran Conflict
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