Temporary sanction relief aims to stabilise global oil markets as Middle East tensions disrupt energy supply chains.
New Delhi: Amid growing concerns over global oil supply disruptions and rising geopolitical tensions, the United States has issued a temporary 30-day waiver allowing India to purchase Russian oil, providing limited relief to strained global energy markets.
The decision was announced by Scott Bessent, US Treasury Secretary. The Secretary stated that the measure was designed to keep oil flowing into the international market during a period of uncertainty. According to the US Treasury, the waiver applies only to Russian oil cargoes that had already been loaded onto tankers but were left stranded at sea after recent sanctions tightened restrictions on Moscow’s energy exports.
The move comes amid heightened geopolitical tensions involving the United States, Israel, and Iran, which have raised fears of disruptions to key global energy supply routes across the Middle East.
Officials said the waiver is strictly limited in both scope and duration. It authorises transactions only for shipments of oil from Russia that had already been loaded onto vessels before the latest US sanctions took effect, but had not yet reached buyers due to uncertainty in the market.
Allowing these shipments to be sold to India within the limited time window is expected to prevent further disruptions and reduce pressure on global oil supply chains. Energy analysts say clearing these stranded cargoes could help stabilise oil prices in the short term.
US officials also indicated that Washington expects New Delhi to gradually increase purchases of American crude in the future, as part of broader energy cooperation between the two countries. They aim to maintain stability in global energy markets during a period of geopolitical tension.
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