U.S. Grants India 30-Day Waiver to Import Russian Oil Amid Middle East Crisis

U.S. Treasury Secretary Scott Bessent announced that this short-term measure is intended to stabilize oil supplies and prevent further price hikes across the global market.

In a statement posted on X (formerly Twitter), Bessent explained that the temporary measure is a direct response to the pressure exerted on energy markets by the crisis in Iran. Describing India as an essential partner, he expressed expectations for New Delhi to increase its energy imports from the United States in the future. He clarified that the waiver is strictly limited to Russian oil cargoes already stranded at sea and loaded on vessels as of March 5, 2026.

This decision marks a temporary shift in policy, as President Donald Trump had previously imposed punitive tariffs on India due to its continued purchase of Russian crude. However, with critical shipping routes like the Strait of Hormuz currently compromised by regional conflict, Washington has prioritized global energy security, allowing India to address its national interests and fuel needs through this emergency window.