US Envoy Sergio Gor: India Crucial for Global Oil Price Stability Amid Russian Waiver

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India Key to Global Oil Stability, US Grants Russian Oil Waiver Amid Mideast Crisis

Gor said India’s role as a major energy consumer and refiner makes its cooperation vital for global market stability.

M

Moneycontrol•11-03-2026, 12:55

India Key to Global Oil Stability, US Grants Russian Oil Waiver Amid Mideast Crisis

•US Ambassador Sergio Gor stated India is vital for global oil price stability and a key partner.
•Washington defended its decision to allow India to continue purchasing Russian crude shipments.
•The waiver was granted due to global supply disruptions triggered by the conflict in the Middle East.
•White House Press Secretary Karoline Leavitt confirmed Donald Trump and the US Treasury Department approved the decision.
•Indian refiners quickly secured about 30 million barrels of Russian oil following the waiver.

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