US declares 30-day waiver for India to buy Russian oil
NEW DELHI: With global crude oil prices crossing the $90 per barrel mark, the US on Friday said it was working with India to mop up excess Russian oil barrels floating around South Asia and cool prices.
US energy secretary Chris Wright told a news channel there is a lot of Russian oil floating at sea. “We have reached out to our friends in India to buy stored Russian oil. That pulls oil into Indian refineries and releases pressure on other global refineries to buy oil that is not competing with Indians in the marketplace,” Wright said, adding that the US has taken several such short-term measures to ensure availability of crude globally. However, he said there was no change in US policy towards Russia.
