US Explains 30-Day Waiver for India to Buy Russian Oil

The United States Department of the Treasury has issued a temporary 30-day waiver allowing India to purchase Russian crude oil, a move aimed at easing pressure on global oil supplies during the ongoing tensions in West Asia.

According to officials, the decision is a short-term measure to stabilise the energy market rather than a change in long-standing policy toward Russia.

US Energy Secretary Explains the Move

Chris Wright, the US Energy Secretary, said the waiver was introduced as a practical step to keep oil flowing into the market.

In a statement shared on social media, Wright said the US had encouraged India to process oil that was already being transported by ships.

“We have implemented short-term measures to help keep oil prices down,” Wright said, adding that allowing India to refine the oil could help bring more supply into the global market quickly.

He also clarified during an interview with ABC News that the waiver should not be seen as a broader shift in US policy toward Russia.

Waiver Announced by US Treasury

The waiver was earlier announced by US Treasury Secretary Scott Bessent.

He stated that the measure was intended to prevent disruptions in global oil supply amid the ongoing geopolitical situation.

According to Bessent, the temporary permission allows Indian refineries to process Russian oil that is already at sea, ensuring that existing shipments can reach the market.

Impact of Middle East Tensions on Oil Supply

The decision comes amid rising tensions following recent military developments involving the United States, Israel and Iran.

Energy markets have been affected after security concerns reportedly disrupted oil and gas operations in parts of the region. The situation has also raised concerns about shipping routes near the Strait of Hormuz, a major corridor for global oil transport.

Analysts note that any disruption in this route can significantly affect global energy supply, as a large portion of the world’s oil shipments pass through the strait.

Temporary Measure for Market Stability

US officials have emphasised that the waiver is limited to 30 days and applies only to oil shipments that were already in transit.

Bessent said the short-term step aims to maintain supply in global markets while limiting financial benefits to Russia.

He also described India as an important partner and expressed expectations that New Delhi may continue to expand energy cooperation with the United States in the future.