New Delhi/Washington:US PresidentDonald Trumphas said that Washington’s decision to grant a temporary waiver allowing India to purchase Russian oil is aimed at reducing pressure on global energy markets during the ongoing geopolitical tensions affecting oil supply routes.
Speaking to reporters aboardAir Force One, Trump explained that the move was designed to stabilise global oil markets as conflicts inWest Asia and the Gulf regioncontinue to threaten supply routes, particularly near theStrait of Hormuz.
TheUS Treasury Departmenthas granted a30-day waiverpermitting Indian refineries to import certain shipments of Russian crude oil that were already on ships but became stranded due to newly imposed sanctions.
Officials said the temporary measure is intended to prevent disruptions in global oil supply and maintain stability in international energy markets.
Trump indicated that the step was taken to ease pressure on oil prices and ensure smooth supply.
“If there were steps we could take to reduce pressure on global markets, we would do it,” Trump said, adding that there is still substantial oil supply available worldwide.
US Treasury SecretaryScott Bessentsaid Washington had earlier asked India to reduce purchases of sanctioned Russian crude oil. However, the current geopolitical situation has prompted temporary flexibility.
According to Bessent, the waiver allows India to process oil shipments already in transit, helping to maintain the flow of supply in global markets.
US officials described the move as ashort-term measureaimed at stabilising oil prices rather than a shift in Washington’s broader policy toward Russia.
Energy SecretaryChris Wrightsaid the waiver would help move stranded oil shipments into refineries quickly and reduce pressure on the global energy market.
US officials also emphasised the importance of the strategic partnership betweenWashington and New Delhi, describing India as a key global energy consumer and an important partner in maintaining market stability.
Bessent noted that allowing Indian refiners to process the stranded Russian oil shipments could help ease disruptions caused by geopolitical tensions in the Middle East.
India has consistently maintained that its energy purchase decisions are based onnational interest and economic considerations.
New Delhi has defended its purchase of Russian oil, citing the need to secure affordable energy supplies for the country’s large population.
Indian officials have also stated that the country does not require external approval when making decisions regarding energy imports.
The waiver comes amid ongoing debates over India’s energy strategy and US trade policies, including tariffs previously imposed on Indian exports due to disagreements over Russian oil purchases.
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