US Admits India's Russian Oil Buys 'Inevitable' Amid Global Market Chaos

• US Treasury Secretary Scott Bessent stated India's purchase of Russian crude was 'inevitable' due to market realities.
• Bessent explained that Russian oil barrels would have otherwise gone to China, prompting a temporary US waiver.
• The waiver allows Russian crude already in transit to reach Indian refiners, aiming to stabilize global energy markets.
• Decision driven by escalating West Asia conflict, Strait of Hormuz concerns, and Brent crude rising above $100.
• India became a major buyer of discounted Russian oil post-Ukraine war, helping control fuel costs and global prices.