After the United States said that it has given “permission” to India to buy Russian oil that is on ships already floating on waterways with a view to easing supplies around the world amid the West Asia conflict, US PresidentDonald Trumpsaid that the move was aimed at taking "a little pressure off". However, New Delhi has categorically stated that itsenergy policyis driven by affordability, availability, and sustainability, not external permissions.
US President Donald Trump on Saturday spoke to the media about several developments in the wake of the unfolding security situation in West Asia. He also responded to the announcement by US Treasury Secretary Scott Bessent on temporarily allowing India to purchase Russian oil.
When asked about Bessent's announcement of temporarily allowing certain Russian oil sales to India and whether the US is considering any other moves, including the SPR, Trump said, "If there were some, I would do it just to take a little of the pressure off."
He added, "I think that the oil pressure -- there's a lot of oil. We've got a lot of oil. Our country has a tremendous amount and we have, there's a lot of oil out there. That'll get healed very quickly."
Meanwhile, the Indian government on Saturday said that New Delhi will continue buying crude oil from countries offering the most competitive prices, according to its national interest. The government said India’s energy supplies remain secure despite disruptions in global shipping routes and energy flows due to the conflict.
"Despite rising tensions on the Hormuz Route, India's energy supply remains secure and stable. India has diversified its crude oil sources from 27 to 40 countries, ensuring multiple alternative supply routes. In the national interest, India purchases oil from wherever the most competitive and affordable rates are available," the Centre said in a post on X.
Earlier, Scott Bessent, the US Treasury Secretary had said that the United States has given India the "permission" to accept Russian oil.
In an interview with Fox Business, Bessent said, "The Indians have been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did. They were going to substitute it with US oil. But to ease the temporary gap of oil around the world, we have given them permission to accept Russian oil. We may un-sanction other Russian oil."
The US had on Thursday announced that a 30-day waiver was granted to India due to the shipping blockade at the Strait of Hormuz. India sources nearly 40 per cent of its oil imports from the Middle East, with a significant portion transported through the strategically important Strait of Hormuz.
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