The United States has temporarily eased sanctions on Russian oil sales to India, granting a 30-day waiver that allows Indian refiners to purchase Russian crude currently stranded at sea. The move comes amid rising tensions in the Middle East that have disrupted global energy supplies.
US Treasury Secretary Scott Bessent said the waiver is a short-term measure designed to ensure the steady flow of oil into global markets during the ongoing conflict involving Iran. According to officials, the waiver only permits transactions involving Russian oil already loaded on ships before March 5 and does not significantly benefit Russia financially.
The decision follows growing concerns over supply disruptions near the Strait of Hormuz, a critical maritime route through which a large portion of India’s crude oil imports pass. Escalating tensions in the region have left millions of barrels of oil and gas shipments stranded at sea, raising fears of an energy shortage.
India imports nearly 90% of its crude oil requirements, and any prolonged disruption in Middle Eastern supplies could trigger inflation and increase the country’s fiscal deficit. Analysts say the waiver could allow up to 145 million barrels of Russian crude currently on tankers to be redirected toward Indian ports if commercial agreements are finalized.
The waiver signals a temporary shift in Washington’s approach, as the US had earlier pressured India to reduce its purchases of Russian oil following Moscow’s invasion of Ukraine. However, with global energy markets under pressure, the latest decision aims to stabilize supply while preventing a wider economic shock.
Experts say the move may ease immediate supply concerns for India, though the country remains heavily dependent on energy shipments passing through the Middle East.
