US EditionUS Grants India 30-Day Waiver for Russian Oil Amid Strait of Hormuz Tensions
The U.S. Treasury issued a 30-day waiver to allow India to buy 145 million barrels of stranded Russian crude to ease supply disruptions from Middle East tensions.
- The US Treasury Department issued a 30-day waiver allowing Indian refiners to purchase Russian oil already stranded at sea amid concerns about Middle East supply disruptions.
- Indian state refiners have bought approximately 20 million barrels of Russian crude under the waiver, with deliveries expected in March and April.
173 Articles
173 Articles
Associated Press News
A boost for Moscow in the shadow of Iran war: US allows India to buy Russian oil for a month
The U.S. Treasury Department’s decision to allow India to buy Russian oil for 30 days underscores a boost for Moscow's fortunes against the backdrop of the Iran war as Russia's oil export earnings help pay for its own war against Ukraine.
Over 10 million barrels bought! Indian refiners buy Russian crude to counter Middle East oil supply shock; US gives 30-day waiver
Shipping data compiled by Bloomberg shows that roughly 15 million barrels of Russian oil are currently held on tankers in the Arabian Sea and the Bay of Bengal. In addition, vessels carrying about 7 million barrels are anchored near Singapore.
US Treasury Secretary Scott Bessent stated that the government will issue a temporary 30-day waiver to allow Indian refineries to purchase oil from Russia.
Trump had actually wanted to force India to stop all oil imports from Russia. However, the customs judgment and the Iran war have put a dash through his bill.
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