The United States has granted a temporary 30-day waiver allowing Russian oil cargoes stranded at sea to be sold to India, two senior U.S. officials told Reuters, aiming to ease pressure on global oil markets.

The United States has granted a temporary 30-day waiver allowing Russian oil cargoes stranded at sea to be sold to India, two senior U.S. officials told Reuters, aiming to ease pressure on global oil markets.

India's access to crucial energy supplies received a temporary boost on Friday after US Treasury Secretary Scott Bessent announced a 30-day waiver allowing Indian refiners to purchase Russian oil.

US Treasury Secretary Scott Bessent said the waiver was issued "to enable oil to keep flowing into the global market" after the Iran conflict raised supply concerns.

WASHINGTON: The United States government on Thursday (Mar 5) temporarily eased economic sanctions against Russia to allow Russian oil currently stranded at sea to be sold to India.The Treasury Department's Office of Foreign Assets Control issued a Russia-related licence "authorising the delivery and sale of c

U.S. grants India a 30-day waiver to purchase Russian oil to stabilize global supply amid West Asian conflicts.

U.S. grants India a 30-day waiver to purchase Russian oil to stabilize global supply amid West Asian conflicts.

As tensions continue in the Middle East and the crisis hampers shipping routes through the Strait of Hormuz, the US granted India a 30-day waiver to purchase Russian oil. US Treasury Secretary Scott Bessent, in a post on X (formerly Twitter), informed of the move.