Indian Refiners Allowed to Buy Russian Oil for Now

The Indian government has been given permission by the US to buy oil from Russia for the next 30 days. This decision was made because of a conflict between Iran, which is trying to control the global supply of energy. The US Treasury Secretary, Scott Bessent, said that this temporary waiver will not greatly benefit the Russian government, as it only allows transactions involving oil that is already stranded at sea. The US had imposed tariffs on India for buying oil from Russia, saying that India’s actions were helping to fuel Russia’s war against Ukraine. However, India and the US have agreed to a framework for an interim trade agreement, which includes India stopping its energy imports from Moscow and increasing purchases of American energy products. Congress has criticized this decision, calling it “American blackmail.” Congress leader Jairam Ramesh tweeted in Hindi that the US was playing a new game with India’s friend Delhi. He asked how long this blackmail would continue. The Russian government has not received any message from India about stopping its oil purchases. The US hopes that India will increase its purchases of American oil, but for now, Indian refiners are allowed to buy oil from Russia for the next 30 days. This decision is a temporary one and is only meant to alleviate pressure caused by Iran’s attempts to control global energy supplies. It remains to be seen what will happen in the future regarding India’s energy imports and whether it will continue to rely on Russian oil or turn to American energy products instead.