The United States government said it granted a temporary waiver to India to purchase Russian oil as it had been a “good actor" and had previously stopped buying Russian oil at Washington’s demands.FOLLOW LIVE UPDATES
During a press conference, White House Press Secretary Karoline Leavitt said, “The President and the Secretary of the Treasury and the whole national security team came to this decision because our allies in India have been good actors and have previously stopped buying sanctioned Russian oil."
Global crude oil and LNG prices have increased sharply after the US-Israeli war on Iran, following which the Iranian regime took control of the Strait of Hormuz, through which 20% of global energy supplies go through.
Leavitt said the US had allowed India to purchase the Russian oil that was already out at sea amid concerns over rising fuel prices. “As we work to appease this temporary gap of oil supply around the world because of the Iranians, we have temporarily permitted them to accept that Russian oil," she said.
#WATCH| White House Press Secretary Karoline Leavitt says, “…The President and the Secretary of the Treasury and the whole national security team came to this decision because our allies in India have been good actors and have previously stopped buying sanctioned Russian oil.…https://t.co/1BALpbnfV6pic.twitter.com/vv20AQT0Zl— ANI (@ANI)March 10, 2026
“This short-term measure, we don’t believe it will provide significant financial benefit to the Russian government at this time," she added.
ALSO READ:Russia Will Continue To Supply Energy Resources To ‘Reliable Partner’ Countries: Putin
Last week, US Treasury Secretary Scott Bessent announced that it was issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. The move came as the US seeks to stabilise global energy markets amid rising tensions in West Asia.
“President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. 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," he said.
Terming India an “essential partner" of the United States, Secretary Bessent said that Washington anticipates that New Delhi will ramp up its purchase of US oil. “This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage."
Source: World News in news18.com, World Latest News, World News
