The United States has given India a temporary exemption to purchase Russian oil, aiming to maintain supplies in the global market. This permission is specifically for the crude oil already loaded onto ships in the sea. US Treasury Secretary Scott Bunting stated in an interview that India has proven to be America’s most compliant country, as it has reduced the purchase of Russian oil this year following US instructions and planned to replace it with American oil. However, due to the escalating tensions in the Middle East and the global supply pressure, the US has temporarily granted India this concession.
Following the failure of the US to open the Strait of Hormuz, global oil prices surged by 9 percent. According to Scott Bunting, there are billions of barrels of Russian crude oil already in the sea, and allowing its sale could rapidly increase global supply and ease prices. US Energy Secretary Chris Wright also stated that India has been given permission to buy Russian oil in the region and process it in its refineries to quickly increase oil supplies in the global market.
According to US officials, this decision was made particularly due to the rising tensions near the Strait of Hormuz and the situation with Iran, where there is a risk of disrupting oil supplies. The US administration has given India a 30-day special exemption, allowing it to sell Russian oil loaded onto ships by March 5, 2026.
Democratic Senator Adam Schiff criticized the Trump administration’s repeatedly changing stance on the Iran conflict. US officials claim that this decision is temporary and that Russia will not benefit financially, as it only involves the sale of existing stockpiles. It is worth noting that before this, Trump had imposed a 25 percent additional tariff on Russian oil purchases, but after the two countries reached a trade framework, this tariff was lifted.
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