economy
March 7, 2026
US grants India 30-day waiver to import Russian oil
The US claimed the move would ensure stability in the global energy market amid the Middle East crisis
TL;DR
- The US has provided India with a 30-day waiver to purchase Russian oil.
- This decision is intended to ensure global market stability during the Middle East crisis.
- US Treasury Secretary Scott Bessent stated the waiver applies only to oil already at sea and does not benefit Russia.
- India, a major oil importer, has been navigating the geopolitical landscape of its energy purchases, balancing national interests with international pressure.
- The waiver follows previous US tariffs on Indian oil imports from Russia and a reported trade deal where India was expected to cease such purchases.
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