US Softens Russian Oil Stance: Market Stability Now Key Priority

• US softens its stance on countries purchasing Russian oil, acknowledging India's role in stabilizing global markets.
• A temporary waiver allows countries to buy Russian oil cargoes stranded at sea to prevent supply disruptions and price spikes.
• Rising geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, are a major factor in the policy shift.
• US Ambassador Sergio Gor praised India for maintaining stable oil prices by continuing to purchase discounted Russian crude.
• The move prioritizes global energy market stability amidst rising oil prices, though broader sanctions against Moscow remain.