The United States on Thursday issued a temporary waiver allowing Russian oil cargoes currently stranded at sea to be sold to India, in a move aimed at easing pressure on global oil markets amid heightened geopolitical tensions and supply disruptions triggered by the ongoing US-Iran war.
“To enable oil to keep flowing into the global market, the US is issuing a 30-day waiver to allow Indian refiners to purchase Russian oil,” Bessent said, adding that the temporary waiver would apply only to cargoes already at sea and would not significantly benefit Moscow financially.
