US Grants India Waiver for Russian Oil Amid Iran Conflict
In an effort to stabilize global energy markets and mitigate price surges, the US Treasury has issued a temporary 30-day waiver, permitting Indian refiners to purchase Russian oil currently en route. This decision comes amidst supply chain disruptions in the Middle East, which have exacerbated India’s existing vulnerability to energy shocks. The waiver is specifically designed to address oil already stranded at sea, aiming to provide short-term relief to Asian refiners without offering significant financial benefit to the Russian government. While previously imposing tariffs on such purchases, the US now seeks to ensure continued oil flow into the global market.
John Q. Hosedrinker