US energy secretary Chris Wright explained the reasoning behind allowing India to buy Russian oil, calling it a temporary measure aimed at easing the pressure on the crude market due to the conflict with Iran.
The 30-day waiver for India was announced earlier by US treasury secretary Scott Bessent, who said it was a 'practical way' to get the supply flowing.
Wright said the US doesn't want India buying Russian oil in normal times and has even imposed a 25 per cent tariff on New Delhi for doing so, but the situation with Iran has changed.
The US and Israel launched strikes on Iran on February 28, killing the country's Supreme Leader, Ayatollah Ali Khamenei, and Iranian retaliatory attacks have forced the closure of several oil and gas fields in the region.
US treasury secretary Scott Bessent said the 30-day waiver is a 'deliberately short-term measure' that will not provide a significant financial benefit to the Russian government.
