US grants 30-day waiver to India for Russian oil purchase as Iran conflict triggers energy concerns
The United States on Friday announced it was granting a 30-day “temporary” waiver to Indian refineries to continue its purchase of Russian energy. The development comes amid concerns of a spike in energy prices due to the ongoing conflict between Iran and the US-Israel that has also spilt over to other Gulf nations.
The announcement was made by US Treasury Secretary Scott Bessent on X, who clarified that the measure wouldn’t help Russia make significant financial gains “as it only authorizes transactions involving oil already stranded at sea”.
