US Grants India 30-Day Waiver to Purchase Stranded Russian Oil Amid Iran Conflict
The United States has issued a temporary 30-day waiver allowing Indian refiners to buy and receive Russian crude oil and petroleum products that are already loaded on vessels and stranded at sea, in a bid to stabilize global energy markets disrupted by the escalating conflict involving Iran in West Asia.
The waiver, announced by U.S. Treasury Secretary Scott Bessent on Thursday, covers cargoes loaded on or before March 5, 2026, and remains valid until April 4, 2026. It permits the sale, delivery, and offloading of these Russian-origin shipments exclusively at Indian ports to entities organized under Indian law.
In a statement posted on X, Secretary Bessent emphasized the limited scope of the measure: “To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow 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.”
The decision comes as the ongoing war in the Middle East, including disruptions in the Strait of Hormuz, has paralyzed tanker traffic and driven up global oil prices. India, the world’s third-largest oil importer, has relied heavily on discounted Russian crude in recent years despite U.S. sanctions pressure.
Indian refiners have reportedly begun securing millions of barrels of Russian oil for prompt delivery under the waiver to address potential supply shortfalls. The move is described as a “stop-gap” to ease immediate pressures on global supplies without broadly relaxing sanctions on new Russian oil transactions.
U.S. officials stressed that the exemption is narrowly tailored and does not signal a shift in policy toward Russia. It aims to prevent further strain on energy markets while encouraging India to boost future imports of American energy resources once the crisis subsides.
