Washington has announced that it will not extend sanctions waivers allowing countries to purchase Russian and Iranian energy, US treasury secretary Scott Bessent said on Wednesday. India was a key beneficiary of the sanctions waivers, which attracted significant criticism from US politicians for enriching loosening financial pressure on Moscow and Tehran.
The US Treasury's decision came despite numerous reports that officials from Asian nations, including India, were pushing Washington to extend the sanctions waivers. India was a key beneficiary of the sanctions waivers, with reports suggesting it placed orders for roughly 30 million barrels of oil from Russia after the sanctions waiver was put into effect.
However, the sanctions waivers attracted significant criticism, particularly from the opposition Democratic party, who argued that they handed Russia an extra $150 billion a day to fuel its war machine.
