United States Grants 30-Day Waiver for Indian Purchases of Russian Oil Amid Middle East Conflict

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VoM News Desk | March 6, 2026 | 11:23 AM IST | Breaking News, India, Politics |
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United States Grants 30-Day Waiver for Indian Purchases of Russian Oil Amid Middle East Conflict

March 6, 2026 – The U.S. Treasury Department on Friday issued a temporary 30-day waiver allowing Indian refiners to buy Russian oil, a move officials say is designed to keep global energy markets stable amid the escalating war in West Asia.

Treasury Secretary Scott Bessent said the measure will not provide “significant financial benefit” to Russia, as it only covers oil already stranded at sea. “This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage,” he added in a statement on social media platform X.

The waiver is intended as a short-term intervention to ensure oil continues to flow into the global market while mitigating disruptions caused by the ongoing conflict between the United States, Israel, and Iran. Bessent also noted that the U.S. expects India to continue increasing purchases of American oil, calling New Delhi an “essential partner.”

Earlier, President Donald Trump had imposed 25% punitive tariffs on India for buying Russian oil, citing concerns that Delhi’s purchases were indirectly supporting Russia’s war in Ukraine. Last month, the U.S. and India reached a framework for an Interim Trade Agreement, prompting Trump to remove the tariffs and acknowledge India’s commitment to gradually reduce imports from Russia while boosting American energy purchases.

Official data shows that India has been steadily decreasing Russian oil imports, sourcing more from the Gulf and the United States. As of January 2026, Russia accounted for less than 20% of India’s oil imports—the first time since May 2022 that its share fell below one-fifth.

However, the long-term trade arrangement with the U.S. remains uncertain following a U.S. Supreme Court ruling on February 20, which struck down the country’s reciprocal tariff framework.

A statement from the Treasury Department clarified that the waiver, titled “Authorizing the Delivery and Sale of Crude Oil and Petroleum Products of Russian Federation Origin Loaded on Vessels as of March 5, 2026 to India,” allows all transactions normally required for the sale, delivery, or offloading of Russian crude already on vessels before March 5. The authorization runs until April 4, 2026, provided deliveries occur at an Indian port and are purchased by entities organized under Indian law.

The temporary measure underscores the delicate balance the U.S. is seeking to maintain between applying sanctions on Russia and stabilizing global energy markets disrupted by the Middle East war.

VoM News Desk

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