US Allows India to Buy Russian Oil Temporarily Amid Global Supply Concerns

US allows India to buy Russian oil temporarily as global oil supply faces pressure due to rising tensions in the Middle East.

According to US officials, the permission applies only to Russian oil shipments that are already loaded on ships and currently at sea.

US Treasury Secretary Scott Bessent said in an interview that India has followed US guidance on reducing Russian oil purchases earlier this year. He noted that India had planned to increase imports of American oil instead.

However, due to tensions in the Middle East and concerns about global oil supply, the US government has allowed India to receive Russian oil shipments that were already on their way.

Officials say millions of barrels of Russian crude are currently on ships in international waters. Allowing these shipments to be delivered could quickly increase global oil supply and reduce pressure on prices.

US Energy Secretary Chris Wright also confirmed that India has been permitted to buy Russian oil available near South Asia and process it in its refineries.

The move aims to stabilize the global oil market at a time when concerns are rising over the security of shipments passing through the Strait of Hormuz.

US authorities said the decision was taken due to growing tensions near the key waterway and the wider situation involving Iran, which could disrupt oil transport routes.

The administration of US President Donald Trump granted India a special exemption for 30 days. Under this arrangement, Russian oil already loaded on ships can be delivered to India until March 5, 2026.

Officials stressed that the measure is temporary and limited. They said it will not provide significant financial benefit to Russia because it only applies to oil already in transit.

Earlier, the Trump administration had imposed an additional 25 percent tariff on India over Russian oil purchases. The tariff was later removed after both countries agreed on a broader trade framework.