U.S. grants 30-day waiver allowing India to import Russian oil shipments already at sea
Washington — The Trump administration has issued a temporary 30-day waiver allowing Indian refiners to import certain shipments of Russian crude oil already in transit, a move officials say is intended to stabilize global energy markets amid rising geopolitical tensions.
The U.S. Treasury Department said the limited authorization permits transactions related to Russian crude oil or petroleum products that were loaded onto vessels before early March. The shipments must be delivered to Indian ports and purchased by companies incorporated under Indian law.
“President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil,” Bassent said.
“This 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. India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage,” he added.
According to the Treasury license, transactions necessary for the sale, delivery or offloading of Russian crude that was loaded onto vessels before March 5 are authorized through April 4.
The authorization applies only to deliveries to ports in India, and the buyers must be Indian entities.
The license also permits a range of operational services needed to complete those shipments, including vessel docking and anchoring, crew safety, emergency repairs and routine maritime support services. These include vessel management, crewing, bunkering, piloting, insurance and other logistical assistance.
U.S. officials said the measure is designed to ensure that shipments already in transit can reach their destination without violating existing sanctions rules.
The Treasury Department emphasized that the waiver is narrow and temporary and does not represent a broader easing of sanctions imposed on Russia.
The authorization also does not allow other transactions restricted under U.S. sanctions laws, including any dealings involving Iran or Iranian-origin goods or services that remain prohibited.
The license was issued by the Treasury Department’s Office of Foreign Assets Control and signed on March 5.
The United States and its Western allies imposed sweeping sanctions on Russia following Moscow’s invasion of Ukraine in 2022, targeting major sectors of the Russian economy including finance, defense and energy. (Source: IANS)
