US President Donald Trump has revealed that the US granted India a 30-day waiver to purchase Russian oil amid the ongoing Iran-US war to 'take a little pressure off'. The waiver, announced by Treasury Secretary Scott Bessent, authorises Indian refineries to continue purchasing Russian energy, but clarifies that it won't help Russia make significant financial gains.
Speaking to reporters on board Air Force One, Trump stated that he would consider using the US's Strategic Petroleum Reserve (SPR) to ease oil pressure, but added that the US has a 'tremendous amount' of oil.
US Energy Secretary Chris Wright explained that the waiver is aimed at easing pressure and supply flow on the crude market due to the ongoing conflict with Iran, saying, 'We are allowing our friends in India to take oil that is already on ships, refine it, and move those barrels into the market quickly.'
India has responded to the waiver by stating that it has never needed permission from any country to buy Russian oil, and that the US move only removes friction and does not define the country's policy.
