US Treasury Secretary Announces 30-Day Waiver for Indian Refiners to Purchase Russian Oil
On Thursday, US Treasury Secretary Scott Bessent revealed a temporary 30-day waiver allowing Indian refiners to buy Russian oil. This decision comes in response to disruptions in energy supplies caused by ongoing conflicts in West Asia, particularly the tensions between the US and Israel with Iran.
Bessent stated that the goal of this measure is to ensure that oil continues to flow into the global market during these challenging times. He noted that, under President Trump’s energy policies, oil and gas production in the US has reached record levels.
However, he emphasized that this short-term waiver is not expected to provide substantial financial benefits to the Russian government, as it only covers transactions for oil that is already stranded at sea, rather than new purchases.
In summary, the Treasury Department is taking steps to stabilize global oil supplies while navigating the complexities of international relations.
