The United States has issued a temporary 30-day waiver allowing Indian refiners to purchase Russian oil already stranded at sea. The move aims to maintain global oil supply amid rising tensions in the Persian Gulf and disruptions in energy markets.
Washington Allows Temporary Russian Oil Purchases by India to Stabilize Supply
New Delhi: Amid rising tensions in West Asia and the impact on global energy supplies, the United States has granted India a temporary exemption to purchase Russian oil. The US Treasury Department has issued this special license for 30 days, allowing Indian refineries to purchase oil from Russia. This decision was taken to maintain oil supplies in the global market and mitigate the energy crisis.
US Treasury Secretary Scott Bessant stated that this exemption is for a limited time only. It will allow transactions involving Russian crude oil and petroleum products loaded onto ships before March 5th. This oil will be available for purchase by Indian companies and shipped to India. This license will expire on April 4th, US time.
Bessant stated that this move was deliberately short-term to avoid significant economic benefits to the Russian government. He clarified that the exemption will only allow the purchase of oil that is already stranded at sea and urgently needs to be transported to the market.
President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded.
To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.…
— Treasury Secretary Scott Bessent (@SecScottBessent) March 6, 2026
The United States says this step has been taken to ensure a steady supply of oil to the global market. Escalating conflict in the Persian Gulf region and tensions with Iran are expected to impact oil supplies. In such a situation, this temporary arrangement could help maintain market stability.
The United States has described India as a key strategic partner. The Treasury Department states that India may increase its purchases of American oil in the future. This temporary step has been taken to maintain energy cooperation between the two countries and maintain balance in the global market.
According to the latest official data, India has reduced its dependence on Russian oil in recent months. Russia's share of India's total oil imports fell to less than 20 percent in January 2026, the first time since May 2022. During this period, India imported more oil from Gulf countries and the United States.
