A month after announcing a trade deal to end India's Russian oil purchases, US President Donald Trump has clarified that the United States granted India a temporary 30-day waiver to buy Russian oil stranded at sea. The move aims to ease pressure on global energy markets disrupted by Middle East tensions, including risks around the Strait of Hormuz.
This waiver follows President Trump's February announcement of a US-India trade agreement under which India pledged to halt Russian oil imports in favor of increased US energy purchases and tariff reductions. The new 30-day permission addresses immediate challenges from Russian oil cargoes stranded at sea, amid heightened tensions disrupting Middle Eastern routes—such as those linked to the Iran conflict—and broader global supply issues.
US officials, including economic advisor Scott Bessent, described the waiver as strictly short-term to stabilize oil prices, support energy security, and relieve short-term pressure on India without undermining long-term goals to reduce reliance on Russian crude. The decision helps avert spikes in global energy markets while international conflicts, including Russia's war in Ukraine, persist.
Trump emphasized the US commitment to market stability, aligning with ongoing diplomatic efforts.
