United States Grants India Temporary Relief on Russian Oil Purchases

India has received temporary relief in purchasing Russian oil. The United States has granted a special waiver for 30 days, allowing Indian refineries to continue importing oil from Russia.

The announcement was made on Friday by U.S. Treasury Secretary Scott Bessent. The Office of Foreign Assets Control, under the U.S. Department of the Treasury, stated that Russian crude oil and petroleum products loaded onto ships by March 5 of this year will be permitted to be delivered and sold to India.

This authorization will remain effective until April 3. According to the Treasury Department, transactions involving vessels under various sanctions may also be completed within this period.

The decision was taken to help stabilize the global energy market amid rising tensions in the Middle East.

Highlighting the importance of bilateral relations with the United States, Bessent said that India is a very important partner for the U.S.

In a post on the social media platform X, he said that President Trump’s energy policies have pushed U.S. oil and gas production to record highs. To keep global oil supplies flowing smoothly, Indian refineries have been granted this temporary 30-day waiver to purchase Russian oil.

However, he noted that the measure is short-term. It is unlikely to provide significant financial benefit to the Russian government, as the permission mainly applies to oil cargoes already stranded at sea.