The United States has granted a temporary 30 day waiver allowing Russian oil cargoes stranded at sea to be sold to India. US officials introduced the move to ease pressure on global oil markets amid rising geopolitical tensions. The waiver applies to shipments that tankers loaded before the latest US restrictions took effect but remained unsold after sanctions tightened.
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Officials said the decision will help maintain the flow of oil in global markets during supply disruptions linked to the ongoing US Iran conflict. Washington believes that allowing these cargoes to reach buyers will prevent shortages and stabilise crude prices. The measure also aims to reduce pressure on the global energy supply chain.
US Treasury Secretary Scott Bessent confirmed the waiver and described India as an important partner of the United States. He said the temporary step would reduce pressure caused by Iran’s attempt to disrupt global energy supplies. Bessent also expressed hope that India will increase its purchases of US crude oil in the future.
US decision aims to ease pressure on global oil supply
India faces growing concerns over energy security as tensions in West Asia affect shipping routes. The country imports a large share of its crude oil from the Middle East and relies heavily on shipments passing through the Strait of Hormuz. Iran has effectively closed the strategic route, raising fears of supply disruptions.
Meanwhile several Indian refiners including Indian Oil Corporation Bharat Petroleum Hindustan Petroleum and Mangalore Refinery have started talks with traders to buy Russian crude under the waiver. Reports suggest that state run refiners have already purchased about 20 million barrels of oil as they move to secure supplies quickly.
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