New Delhi, March 6 -- : Amid the ongoing conflicts in West Asia leading to a surge in crude oil prices, the United States (US) has issued a temporary waiver allowing Indian refiners to purchase Russian oil.
In a post on X, US Treasury Secretary Scott Bessent said, "To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.""This deliberately short-term measure will not provide significant financial benefit to the Russian government, as it only authorizes transactions involving oil already stranded at sea," it read.
"India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S...