March 6, 2026
US Issues India 30-Day Waiver to Buy Russian Oil Amid Iran Conflict
India has been one of Russia's largest crude oil importers since the invasion of Ukraine.
TL;DR
- The U.S. Treasury Department issued a 30-day waiver for India to buy Russian crude oil.
- The waiver authorizes transactions for oil already standardized at sea.
- The U.S. anticipates India will increase purchases of American oil.
- The measure aims to counter Iran's influence on global energy.
- The White House had previously pressured India to stop buying Russian oil.
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