US Grants India 30-Day Russian Oil Waiver, Cites 'Good Move' Amid Global Shortage

• US Treasury Secretary Scott Bessent announced a 30-day waiver for Indian refineries to buy Russian oil.
• Bessent praised India's 'good move' for initially stopping purchases of sanctioned Russian oil and wanting to buy from the US.
• The waiver aims to stabilize the global energy market, address temporary oil shortage, and release billions of barrels of Russian crude stuck on ships.
• The US considers India an 'important partner' and hopes New Delhi will increase future oil purchases from America.
• This short-term measure is not expected to significantly benefit the Russian government financially, as it applies only to oil already stuck at sea.