US Grants 30-Day Waiver Allowing Indian Refiners to Buy Russian Oil Amid Iran War
Temporary measure aims to stabilise global energy supply while encouraging India to increase US oil purchases
NEW YORK/WASHINGTON, Mar 6: The United States has issued a temporary 30-day waiver allowing Indian refiners to buy Russian oil, citing the need to maintain global energy supplies amid the escalating conflict with Iran.
US Treasury Secretary Scott Bessent announced the decision on Thursday, saying the measure was intended to ensure that crude continues to flow into the international market during the ongoing crisis.
“President Trump’s energy agenda has resulted in oil and gas production reaching record levels. To keep oil moving into the global market, the Treasury Department is issuing a temporary 30-day waiver permitting Indian refiners to purchase Russian oil,” Bessent said.
He described the step as a deliberately short-term arrangement that would not significantly benefit Russia financially, as it only permits transactions involving crude shipments that were already stranded at sea.
Bessent also emphasised the strategic relationship between Washington and New Delhi, adding that the US expects India to gradually increase imports of American energy. He said the temporary relief would help ease market pressures caused by disruptions linked to Iran.
Earlier, the Trump administration had imposed 25 percent punitive tariffs on India over its continued purchases of Russian crude, arguing that such imports were indirectly supporting Moscow’s war in Ukraine. However, last month both countries announced a framework for an interim trade agreement, after which the tariffs were removed through an executive order. The decision followed India’s commitment to reduce energy imports from Russia and boost purchases of US oil and gas.
According to the US Treasury Department, the authorisation covers transactions necessary for the delivery, sale, or offloading of Russian-origin crude and petroleum products loaded on vessels on or before March 5, 2026. The waiver will remain valid until April 4, 2026, provided the cargo is delivered to ports in India and purchased by Indian entities.
Officials clarified that the licence applies strictly to these shipments and does not permit any transactions prohibited under other US sanctions, including dealings involving Iran or Iranian origin goods and services.
