Reversing its position, US allows India to buy Russian oil
The Kyiv Independent • • world
Key Points:
- The U.S. Treasury Department has issued a temporary 30-day waiver allowing Indian refiners to purchase Russian oil, aiming to maintain global oil supply amid Middle East conflicts.
- The waiver is a short-term measure authorizing only transactions involving Russian oil already stranded at sea, minimizing financial benefits to the Russian government.
- U.S. Treasury Secretary Scott Bessent emphasized India as a vital partner and expects New Delhi to increase purchases of U.S. oil despite the waiver.
- Indian refiners have started buying significant volumes of Russian crude due to tightening oil supplies caused by the U.S.-Israeli conflict involving Iran.
- This move comes after months of U.S. pressure on India to reduce Russian oil imports to limit Moscow's
