Donald Trump, President of the United States, said Washington granted India a temporary waiver to continue purchasing Russian oil in order to reduce pressure on global energy markets during the ongoing conflict involving Iran.
Speaking to reporters aboard Air Force One, Trump said the decision was intended to stabilise the oil supply amid rising geopolitical tensions.
“There is a lot of oil pressure at the moment. If there were some options, I would do it just to take a little of the pressure off,” Trump said.
He also emphasised that the United States has significant energy reserves, adding that the country possesses a “tremendous amount” of oil.
US Treasury Announces 30-Day Temporary Waiver
Earlier, Scott Bessent, the United States Department of the Treasury Secretary, announced a 30-day temporary waiver allowing Indian refineries to continue processing Russian crude oil.
According to Bessent, the measure is limited in scope and applies only to shipments already in transit.
He clarified that the move would not generate substantial revenue for Russia because it only authorises transactions involving oil that is currently stranded at sea.
US Officials Say Move Aims to Stabilise Global Oil Markets
Chris Wright, the United States Department of Energy Secretary, said the temporary measure was designed to ease supply pressures caused by the ongoing conflict in the Middle East.
“We are allowing our friends in India to take oil that is already on ships, refine it, and move those barrels into the market quickly,” Wright said.
He added that the decision is a short-term step to keep global crude prices stable and ensure sufficient supply in international markets.
The policy does not represent a change in the US stance toward Russia, he noted.
India Maintains It Does Not Require Permission
Following the announcement, a senior Indian government official stated that India does not require approval from any country to purchase energy resources.
The official said the waiver merely removes friction in global transactions but does not determine India’s energy policy.
According to the official, India has continued importing Russian oil even during periods of Western sanctions, ensuring steady fuel supplies for domestic markets.
“No petrol pump has run dry in the last 12 years,” the official said, emphasising that the government continuously monitors global developments and acts in the national interest.
Energy Security Remains a Key Priority
The global energy market has experienced volatility since the escalation of tensions involving the United States, Israel, and Iran in recent weeks.
The temporary waiver highlights the strategic importance of India’s energy demand and its role in maintaining stability in global oil markets during geopolitical disruptions.
