The United States has granted India a temporary 30-day waiver to continue purchasing Russian oil, a move aimed at stabilising global energy flows as the crisis in the Gulf disrupts shipping routes through the Strait of Hormuz.
The move comes at a time when tensions in West Asia are putting key energy routes under strain. Much of the world’s oil travels through the narrow Strait of Hormuz, so even a small disruption there can unsettle global markets.
India, which relies heavily on crude imports, is closely watching the situation as regional instability raises concerns over supplies.
US Treasury Secretary Scott Bessent said the waiver was designed as a short-term step to keep oil moving in international markets.
“President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. 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,” Bessent said.
He added that the measure would be strictly limited. According to him, the waiver only covers oil shipments that are already stranded at sea and therefore would not provide significant financial gains to the Russian government.
Bessent also described India as an important partner for Washington and said the US expects New Delhi to increase purchases of American oil in the future. The temporary relaxation, he said, would help ease pressure created by what he called Iran’s attempts to disrupt global energy flows.
India monitoring energy supplies as West Asia tensions rise
The waiver comes at a time when the region is witnessing heightened tensions after a joint US-Israel strike on Iranian territory on February 28, which reportedly led to the death of Iran’s Supreme Leader Ayatollah Ali Khamenei along with several senior figures.
The developments have raised fears of wider instability across the Gulf, a region that supplies nearly 40 per cent of India’s crude oil imports, much of it transported through the Strait of Hormuz.
News agency ANI mentioned sources as saying that India is assessing its energy situation two times a day to keep track of the evolving situation.
Officials say the country currently has comfortable reserves and that stocks are being replenished daily. Sources also indicated that there is no shortage of LPG, LNG, or crude oil globally at the moment.
India has also remained in contact with multiple energy suppliers as a precaution. Authorities say the government is closely monitoring developments in the region and remains confident that diversified sourcing and adequate inventory will help manage any disruption.
India continues to import Russian crude under existing contracts, while the government keeps watch on global energy markets to ensure that supplies remain uninterrupted.