US India Russian oil waiver: The United States has granted India a temporary 30-day exemption allowing the country to continue purchasing Russian crude oil. The move is intended to reduce pressure on the global energy market following instability caused by the ongoing conflict in the Middle East.

According to the US Treasury Department, the waiver permits Indian refineries to buy Russian crude oil cargoes that are currently stranded at sea. The decision is aimed at preventing disruptions in global oil supply chains and maintaining stability in international energy markets.

Following the announcement, major Indian state-run refiners   including Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Hindustan Petroleum Corporation Limited   have begun accelerating their procurement of Russian crude shipments.

US Treasury Secretary Scott Besant stated that the temporary exemption was introduced to ensure that the global oil market continues to function smoothly and that supply shortages do not affect international energy prices.

The decision reflects growing concerns about energy security as geopolitical tensions in the Middle East continue to impact global oil trade and supply routes.