Nation
The United States has issued a 30-day waiver allowing Indian refiners to purchase Russian oil that is currently stranded at sea. The temporary authorization covers cargo loaded on vessels on or before March 5, 2026, and remains valid until April 4, 2026.
US Treasury Secretary Scott Bessent said the move is intended to maintain stability in global oil markets during rising energy tensions linked to Iran’s actions and supply disruptions.
The waiver allows delivery and sale of Russian crude and petroleum products to India while limiting financial benefits to Russia. The US also expects India to gradually increase imports of American oil in the future.