US grants India 30-day waiver to import Russian oil
The US has granted India a 30-day waiver to purchase oil from Russia, a top official has said.
The move is aimed at ensuring stability in the global oil market, US Treasury Secretary Scott Bessent said, amid a mounting energy crisis as the US-Israeli war with Iran escalates.
“India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of US oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage,” Bessent said in a post on X.
He also claimed that the move will not benefit Russia as it only authorizes transactions involving oil already stranded at sea.
US Issues 30-Day Waiver On Sanctions For Russian Oil Purchases By Indian RefinersTreasury Secretary Scott Bessent said the temporary measure applies only to Russian cargoes already stranded at sea and added that “we fully anticipate that New Delhi will ramp up purchases of U.S.… pic.twitter.com/9qkFvl9scq
— RT_India (@RT_India_news) March 6, 2026
The US earlier claimed that India had agreed to stop oil purchases from Russia when it announced a trade deal with New Delhi in February.
Indian officials have not acknowledged the claim and have repeatedly said the country’s energy purchases are dictated by its national interests.
US President Donald Trump had imposed 25% punitive tariffs on India for buying Russian oil in August 2025, insisting that New Delhi’s purchases were helping fund Russia’s military operation. The levy was waived after the trade deal was announced.
After a Supreme Court verdict struck down the tariffs, the White House initially set a rate at 10% before Trump announced the global rate would be increased to 15%.
India will ensure the availability and affordability of petroleum products for consumers amid the escalating crisis in the Middle East, the country’s Oil Ministry said on Monday.
New Delhi imports 85% of its oil and nearly half of its natural gas. About half of the country’s oil supplies and 55% of LNG shipments are routed through the Strait of Hormuz, which was closed off shortly after the beginning of the US/Israeli war on Iran.
India is looking to revive large purchases of Russian crude amid the ongoing crisis, just weeks after Washington pressured it to scale down imports, Bloomberg reported on Monday.
Oil purchases by India, the world’s third-largest importer and consumer of crude, ensure global energy security, a top Russian aide had said in February. India became a key market for Russian crude following the escalation of the Ukraine conflict in 2022.
New Delhi has been gradually reducing oil imports from Russia and had sourced more supplies from Gulf nations and the US in January 2026. Russia’s share in India’s oil imports fell to less than 20% for the first time since May 2022, The Hindu reported.
