The United States (US) has issued a 30-day waiver allowing Indian refiners to buy Russian oil cargoes currently stranded at sea due to disrupted shipping routes.
US Treasury Secretary Scott Bessent announced the decision on Thursday, describing it as a limited and temporary measure designed to address supply disruptions caused by the blockade of the Strait of Hormuz amid the ongoing conflict involving US, Israel and Iran, which has expanded across West Asia.
He emphasised the measure “will not provide significant financial benefit to the Russian government.”
The exemption was issued by the Office of Foreign Assets Control and applies only to cargoes that have already been shipped. It allows them to be redirected to Indian ports until the waiver expires on April 4, 2026. The decision does not permit new Russian oil shipments and does not represent a broader relaxation of US secondary sanctions.