US issues 30 day waiver for India to buy Russian oil

MG News | March 06, 2026 at 09:39 AM GMT+05:00

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March 06, 2026 (MLN): President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded, according to a statement shared by the U.S. Treasury Secretary.

In a post on X, the Treasury Secretary said the U.S. Treasury Department is issuing a temporary 30-day waiver allowing Indian refiners to purchase Russian oil in order to keep oil flowing into the global market.

He said the deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea.

He added that India is an essential partner of the United States and that Washington anticipates New Delhi will ramp up purchases of U.S. oil.

The stop-gap measure, he said, will help alleviate pressure caused by Iran’s attempt to take global energy hostage.

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