The U.S. granted India temporary permission to acquire Russian oil that is already aboard tankers at sea, U.S. Treasury Secretary Scott Bessent stated.
He announced that the Treasury Department provided a 30-day exemption for Indian refineries.
«To enable oil to continue flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver allowing Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government, as it only authorizes transactions involving oil already stranded at sea,» Bessent wrote on X.
According to the official, the decision aims to ease pressure on global energy markets amid tensions in the Middle East.
He also expressed hope that India would increase its purchases of American energy resources.
