US allows India to buy Russian oil temporarily as global oil supply faces pressure due to rising tensions in the Middle East.<\/p>\n
According to US officials, the permission applies only to Russian oil shipments that are already loaded on ships and currently at sea.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n